Newmont Corporation $NEM Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its position in Newmont Corporation (NYSE:NEM) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,605,220 shares of the basic materials company’s stock after selling 220,776 shares during the quarter. Panagora Asset Management Inc.’s holdings in Newmont were worth $160,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in Newmont during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Newmont during the third quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont during the fourth quarter worth approximately $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NEM shares. Royal Bank Of Canada cut their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Macquarie Infrastructure upped their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. National Bank Financial raised their price objective on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Weiss Ratings cut Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Finally, TD Securities reaffirmed a “hold” rating and issued a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,556 shares of company stock worth $3,444,276 over the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Down 0.1%

Shares of Newmont stock opened at $100.10 on Monday. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The company has a market capitalization of $106.86 billion, a PE ratio of 12.98, a P/E/G ratio of 1.66 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business has a 50-day moving average of $110.94 and a 200-day moving average of $110.14.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 45.8% compared to the same quarter last year. As a group, equities analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is 13.49%.

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.