Dorsey & Whitney Trust CO LLC Lowers Stock Holdings in Newmont Co. (NYSE:NEM)

Dorsey & Whitney Trust CO LLC lowered its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,133 shares of the basic materials company’s stock after selling 560 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Newmont were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEM. BlackRock Inc. lifted its position in Newmont by 0.8% in the first quarter. BlackRock Inc. now owns 92,339,052 shares of the basic materials company’s stock valued at $7,336,337,000 after purchasing an additional 703,555 shares during the period. Vanguard Group Inc. lifted its position in Newmont by 1.9% in the first quarter. Vanguard Group Inc. now owns 66,911,768 shares of the basic materials company’s stock valued at $5,316,140,000 after purchasing an additional 1,225,458 shares during the period. State Street Corp lifted its position in Newmont by 0.7% in the first quarter. State Street Corp now owns 40,619,717 shares of the basic materials company’s stock valued at $3,227,237,000 after purchasing an additional 270,396 shares during the period. GQG Partners LLC lifted its position in Newmont by 182.0% in the first quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company’s stock valued at $2,547,688,000 after purchasing an additional 20,699,677 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Newmont by 0.4% in the first quarter. First Eagle Investment Management LLC now owns 17,502,393 shares of the basic materials company’s stock valued at $1,390,565,000 after purchasing an additional 69,139 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Newmont Trading Up 0.3 %

Shares of Newmont stock opened at $46.25 on Thursday. The company has a market capitalization of $36.71 billion, a P/E ratio of 36.71 and a beta of 0.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $86.37. The business has a 50 day moving average price of $42.81 and a 200 day moving average price of $51.09.

Newmont (NYSE:NEMGet Rating) last released its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. Sell-side analysts anticipate that Newmont Co. will post 1.9 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be paid a $0.55 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $2.20 annualized dividend and a yield of 4.76%. Newmont’s payout ratio is currently 174.60%.

Insiders Place Their Bets

In other news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark Casper sold 4,890 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $42.71, for a total transaction of $128,130.00. Following the sale, the chief operating officer now directly owns 42,947 shares of the company’s stock, valued at $1,834,266.37. The disclosure for this sale can be found here. In the last three months, insiders sold 32,890 shares of company stock valued at $1,405,502. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. Fundamental Research restated a “buy” rating and issued a $52.00 price objective (down previously from $63.91) on shares of Newmont in a research report on Tuesday, November 15th. StockNews.com began coverage on shares of Newmont in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Canaccord Genuity Group upgraded shares of Newmont from a “hold” rating to a “buy” rating and reduced their price target for the company from $66.00 to $60.00 in a research report on Wednesday, July 27th. National Bank Financial lifted their price target on shares of Newmont from C$79.00 to C$80.00 in a research report on Thursday, October 13th. Finally, TD Securities reduced their price target on shares of Newmont from $49.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, November 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Hold” and an average target price of $63.33.

Newmont Company Profile

(Get Rating)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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