MASTERINVEST Kapitalanlage GmbH Cuts Stock Holdings in Newmont Corporation $NEM

MASTERINVEST Kapitalanlage GmbH cut its position in shares of Newmont Corporation (NYSE:NEM) by 15.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,622 shares of the basic materials company’s stock after selling 6,480 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in Newmont were worth $3,088,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the period. Concord Wealth Partners increased its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Newmont during the 3rd quarter valued at approximately $44,000. Finally, Capital A Wealth Management LLC grew its stake in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. UBS Group raised their price target on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. BNP Paribas Exane cut Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a report on Friday, December 5th. National Bankshares boosted their price objective on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, TD Securities raised their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $97.08.

Newmont Stock Up 2.0%

Shares of NYSE NEM opened at $108.99 on Friday. The stock has a market cap of $118.94 billion, a PE ratio of 16.92, a P/E/G ratio of 0.79 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12-month low of $38.53 and a 12-month high of $109.30. The company has a 50-day moving average of $94.34 and a 200 day moving average of $80.57.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is 15.53%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by company insiders.

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.