Lmcg Investments LLC Sells 7,799 Shares of Newmont Corporation $NEM

Lmcg Investments LLC decreased its holdings in Newmont Corporation (NYSE:NEM) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,764 shares of the basic materials company’s stock after selling 7,799 shares during the quarter. Lmcg Investments LLC’s holdings in Newmont were worth $2,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Estate Counselors LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at $4,182,000. CWM LLC increased its stake in shares of 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 during the period. AustralianSuper Pty Ltd grew its stake in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after purchasing an additional 44,846 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares in the company, valued at $5,430,074.65. The trade was a 5.73% 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 a total of 43,068 shares of company stock worth $4,769,475 over the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $113.38 on Friday. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The firm has a market cap of $121.03 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock’s 50-day moving average is $112.91 and its 200-day moving average is $105.96.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Newmont’s revenue was up 45.8% on a year-over-year basis. Equities analysts predict that Newmont Corporation will post 9.5 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Analyst Ratings Changes

NEM has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a report on Tuesday, April 28th. TD Cowen reiterated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Canadian Imperial Bank of Commerce reduced their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. TD lifted their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Jefferies Financial Group lifted their target price on Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target 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.