Newmont Corporation $NEM Shares Sold by Rathbones Group PLC

Rathbones Group PLC lowered its stake in Newmont Corporation (NYSE:NEM) by 27.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,491 shares of the basic materials company’s stock after selling 31,310 shares during the period. Rathbones Group PLC’s holdings in Newmont were worth $8,930,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cedar Mountain Advisors LLC purchased a new position in Newmont during the 1st quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont during the first quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Newmont in the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC boosted its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in Newmont during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $95.47 on Tuesday. The firm has a 50 day moving average of $98.24 and a 200-day moving average of $109.29. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.05 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $63.13 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, equities analysts expect that Newmont Corporation will post 8.99 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent analyst reports. National Bank Financial reduced their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Argus set a $110.00 price objective on Newmont in a report on Monday. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Citigroup reduced their target price on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Barclays decreased their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.11.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on 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 owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,882 shares of company stock worth $1,001,952 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Company 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.