Newmont Corporation $NEM Shares Sold by Carmel Capital Partners LLC

Carmel Capital Partners LLC lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 9.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,852 shares of the basic materials company’s stock after selling 526 shares during the period. Carmel Capital Partners LLC’s holdings in Newmont were worth $283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its position in shares of Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares in the last quarter. Generate Investment Management Ltd raised its position in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after acquiring an additional 77,865 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after acquiring an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont during the 1st quarter worth about $423,000. Finally, Spire Wealth Management increased its position in Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after buying an additional 1,309 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 7.6%

NEM stock opened at $90.76 on Friday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The stock has a market capitalization of $99.69 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company has a fifty day moving average of $79.24 and a 200-day moving average of $63.97.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. BNP Paribas Exane lifted their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. TD Securities lifted their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, UBS Group lifted their price target on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.59.

Newmont Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.