Newmont Corporation $NEM Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in shares of Newmont Corporation (NYSE:NEM) by 15.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,249,968 shares of the basic materials company’s stock after selling 419,569 shares during the quarter. Newmont makes up about 1.5% of Gabelli Funds LLC’s holdings, making the stock its 3rd largest position. Gabelli Funds LLC’s holdings in Newmont were worth $224,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Estate Counselors LLC bought a new position in Newmont in the 3rd quarter valued at about $4,182,000. CWM LLC grew its position in 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 buying an additional 79,617 shares in the last quarter. AustralianSuper Pty Ltd grew its position 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 buying an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after buying an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $108.93 on Monday. Newmont Corporation has a twelve month low of $48.61 and a twelve month high of $134.88. 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 company has a market capitalization of $116.29 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.52 and a beta of 0.43. The firm has a 50-day moving average of $111.96 and a two-hundred day moving average of $107.24.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 45.8% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Activity

In other Newmont news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce decreased their target price on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Scotiabank decreased their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, BMO Capital Markets upped their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.51.

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.