Newmont Corporation $NEM Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its stake in shares of Newmont Corporation (NYSE:NEM) by 19.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,527 shares of the basic materials company’s stock after selling 8,754 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Newmont were worth $3,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP boosted its holdings in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after acquiring an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Newmont in the second quarter worth $240,000. Cerity Partners LLC raised its holdings in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $96.09 on Friday. The stock has a market capitalization of $102.58 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.59 and a beta of 0.42. The stock has a 50-day moving average of $107.94 and a 200 day moving average of $110.78. 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 Corporation has a twelve month low of $55.37 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insider Activity at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,556 shares of company stock worth $3,120,276 in the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NEM shares. National Bank Financial upped their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. TD upped their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. BMO Capital Markets reduced their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, Macquarie Infrastructure decreased their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.50.

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.