Boston Partners Decreases Stock Holdings in Newmont Corporation $NEM

Boston Partners decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,687,343 shares of the basic materials company’s stock after selling 244,367 shares during the period. Boston Partners’ holdings in Newmont were worth $673,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GoalVest Advisory LLC acquired a new stake in Newmont in the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC increased its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 2.6%

NYSE:NEM opened at $100.10 on Friday. The firm has a market cap of $106.86 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $110.94 and its 200-day simple moving average is $109.98. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given 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 payout ratio is presently 13.49%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Jefferies Financial Group raised their target price on Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a report on Monday, June 8th. Citigroup raised their target price on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Macquarie Infrastructure boosted their price objective on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Insider Activity at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. This trade represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 49,950 shares of company stock worth $5,494,288. 0.06% of the stock is currently owned by insiders.

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.