Winmill & CO. Inc. Sells 71,000 Shares of Newmont Corporation $NEM

Winmill & CO. Inc. trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 79.8% in the 4th quarter, Holdings Channel reports. The firm owned 18,000 shares of the basic materials company’s stock after selling 71,000 shares during the period. Winmill & CO. Inc.’s holdings in Newmont were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter valued at $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Newmont in the 3rd quarter worth $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the fourth quarter worth $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.1%

Newmont stock opened at $100.10 on Monday. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The firm has a market capitalization of $106.86 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.66 and a beta of 0.42. The firm has a 50 day moving average of $110.94 and a 200 day moving average of $110.14. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 dividend payout ratio (DPR) is presently 13.49%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This trade represents a 2.64% 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. Over the last 90 days, insiders sold 31,556 shares of company stock worth $3,444,276. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. TD raised their price objective on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Scotiabank reduced their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. UBS Group dropped their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, Citigroup upped their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.26.

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.