Marathon Asset Management Ltd Has $14.73 Million Holdings in Newmont Corporation $NEM

Marathon Asset Management Ltd decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 42.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 174,701 shares of the basic materials company’s stock after selling 126,742 shares during the period. Marathon Asset Management Ltd’s holdings in Newmont were worth $14,729,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Concord Wealth Partners increased its stake in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. Capital A Wealth Management LLC increased its position in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the last quarter. Caldwell Trust Co bought a new stake in Newmont during the second quarter worth about $31,000. Finally, Country Trust Bank acquired a new position in Newmont during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,240 shares of company stock worth $943,985 in the last ninety days. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 1.0%

NEM stock opened at $105.79 on Monday. Newmont Corporation has a one year low of $36.86 and a one year high of $106.34. The stock has a market cap of $115.44 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41. The company has a fifty day moving average price of $90.38 and a two-hundred day moving average price of $77.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NEM shares. National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. CIBC set a $112.00 target price on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. TD Securities lifted their price objective on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $96.37.

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.