JB Capital LLC Sells 35,940 Shares of Newmont Corporation $NEM

JB Capital LLC trimmed its position in Newmont Corporation (NYSE:NEM) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,412 shares of the basic materials company’s stock after selling 35,940 shares during the quarter. JB Capital LLC’s holdings in Newmont were worth $4,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. Ieq Capital LLC grew its position in shares of Newmont by 30.4% during the first quarter. Ieq Capital LLC now owns 8,410 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 1,960 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Newmont by 7.6% in the first quarter. Vident Advisory LLC now owns 47,907 shares of the basic materials company’s stock worth $2,313,000 after purchasing an additional 3,387 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Newmont in the first quarter worth about $825,000. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of Newmont by 22.2% in the first quarter. Focus Partners Advisor Solutions LLC now owns 12,518 shares of the basic materials company’s stock worth $604,000 after buying an additional 2,270 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,160 shares of company stock worth $767,206. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NEM. BNP Paribas cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Friday, December 5th. UBS Group increased their target price on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, TD Securities lifted their price objective on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $97.08.

Newmont Stock Up 2.0%

NYSE NEM opened at $101.80 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $106.34. The firm has a market capitalization of $111.09 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.69 and a beta of 0.41. The company has a fifty day moving average of $90.79 and a two-hundred day moving average of $78.28.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business earned $0.81 EPS. The business’s revenue was up 20.0% on a year-over-year basis. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio is currently 15.53%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.