Newmont Corporation $NEM Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in Newmont Corporation (NYSE:NEM) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,823 shares of the basic materials company’s stock after selling 5,717 shares during the period. Meyer Handelman Co.’s holdings in Newmont were worth $24,121,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after acquiring an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares during the period. AustralianSuper Pty Ltd increased its holdings in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the last quarter. Leonteq Securities AG purchased a new stake in Newmont in the fourth quarter valued at approximately $9,018,000. Finally, Waverton Investment Management Ltd raised its position in Newmont by 3.4% in the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after purchasing an additional 23,139 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 28,556 shares of company stock valued at $3,120,276. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 1.3%

NYSE:NEM opened at $95.26 on Friday. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The firm has a market cap of $101.69 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.56 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 has a fifty day moving average price of $108.28 and a 200 day moving average price of $110.89.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm 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%.Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is currently 13.49%.

Analyst Ratings Changes

Several research firms have recently commented on NEM. Argus raised their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Canaccord Genuity Group increased their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Jefferies Financial Group boosted their price target on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Citigroup increased their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

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.