Newmont Corporation $NEM Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. decreased its stake in shares of Newmont Corporation (NYSE:NEM) by 79.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,808 shares of the basic materials company’s stock after selling 26,207 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Newmont were worth $574,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Newmont in the second quarter valued at $240,000. Envestnet Asset Management Inc. boosted its stake in Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Newmont by 9.7% during the second quarter. Bessemer Group Inc. now owns 12,934 shares of the basic materials company’s stock worth $753,000 after acquiring an additional 1,143 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. BNP Paribas Exane raised their price objective on shares of Newmont from $97.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. UBS Group reissued a “buy” rating and set a $160.00 target price on shares of Newmont in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $177.00 price target on shares of Newmont in a research report on Wednesday, February 4th. Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Finally, Sanford C. Bernstein raised Newmont from a “market perform” rating to a “market outperform” rating and raised their price objective for the stock from $121.00 to $157.00 in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.15.

Newmont Trading Up 2.1%

Shares of NYSE NEM opened at $127.46 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $138.66 billion, a PE ratio of 19.95, a PEG ratio of 1.07 and a beta of 0.40. The business has a 50-day moving average price of $115.20 and a two-hundred day moving average price of $94.55. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the prior year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio is currently 16.28%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Newmont Profile

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.