Metis Global Partners LLC Sells 13,341 Shares of Newmont Corporation $NEM

Metis Global Partners LLC lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 9.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 127,637 shares of the basic materials company’s stock after selling 13,341 shares during the period. Metis Global Partners LLC’s holdings in Newmont were worth $12,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC boosted its position in Newmont by 312.1% during the fourth 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 period. JPL Wealth Management LLC bought a new position in Newmont during the third quarter worth about $27,000. Lodestone Wealth Management LLC bought a new position in Newmont during the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Newmont in the fourth quarter valued at approximately $30,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred 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 sale, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the sale, the executive vice president owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. The trade was a 6.08% 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. Insiders sold a total of 49,950 shares of company stock valued at $5,494,288 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Argus raised their price objective on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Barclays initiated coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective for the company. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Newmont Price Performance

NEM stock opened at $92.76 on Thursday. Newmont Corporation has a 12 month low of $52.42 and a 12 month high of $134.88. The firm has a market capitalization of $99.02 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.63 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 firm has a 50 day moving average of $111.42 and a 200-day moving average of $109.95.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the business posted $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is presently 13.49%.

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.