Lazard Asset Management LLC Has $441,000 Holdings in Newmont Co. (NYSE:NEM)

Lazard Asset Management LLC cut its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 86.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,139 shares of the basic materials company’s stock after selling 44,198 shares during the period. Lazard Asset Management LLC’s holdings in Newmont were worth $441,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Newmont by 6.0% during the fourth quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock worth $2,465,087,000 after acquiring an additional 2,256,671 shares in the last quarter. Flossbach Von Storch AG lifted its holdings in Newmont by 0.9% during the fourth quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock worth $1,065,912,000 after acquiring an additional 147,793 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 1.6% during the third quarter. Geode Capital Management LLC now owns 12,664,666 shares of the basic materials company’s stock worth $685,607,000 after acquiring an additional 196,777 shares in the last quarter. Northern Trust Corp lifted its holdings in Newmont by 1.6% during the fourth quarter. Northern Trust Corp now owns 11,603,788 shares of the basic materials company’s stock worth $719,666,000 after acquiring an additional 187,315 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Newmont by 44.2% during the third quarter. Invesco Ltd. now owns 10,151,231 shares of the basic materials company’s stock worth $551,212,000 after acquiring an additional 3,109,683 shares in the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Thomas Ronald Palmer sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $66.94, for a total value of $468,580.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Blake Rhodes sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $66.94, for a total value of $33,470.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,843 shares of company stock worth $5,199,013. Company insiders own 0.11% of the company’s stock.

Shares of NYSE NEM opened at $65.25 on Friday. The business’s 50 day moving average price is $76.45 and its two-hundred day moving average price is $65.98. The company has a market cap of $51.79 billion, a PE ratio of 49.81 and a beta of 0.36. The company has a quick ratio of 2.53, a current ratio of 2.92 and a debt-to-equity ratio of 0.28. Newmont Co. has a twelve month low of $52.60 and a twelve month high of $86.37.

Newmont (NYSE:NEMGet Rating) last announced its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.06 billion. Newmont had a return on equity of 10.24% and a net margin of 8.53%. Newmont’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. As a group, research analysts anticipate that Newmont Co. will post 3.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, June 1st. Newmont’s dividend payout ratio (DPR) is presently 167.94%.

Several research analysts have weighed in on NEM shares. National Bankshares reduced their target price on Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 26th. StockNews.com assumed coverage on Newmont in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group boosted their price target on Newmont from $67.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, March 9th. Canaccord Genuity Group cut their price target on Newmont from $87.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, April 26th. Finally, Credit Suisse Group lowered Newmont from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.69.

About Newmont (Get Rating)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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