O Shaughnessy Asset Management LLC Lowers Stock Position in Newmont Co. (NYSE:NEM)

O Shaughnessy Asset Management LLC lessened its holdings in Newmont Co. (NYSE:NEMGet Rating) by 6.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,737 shares of the basic materials company’s stock after selling 1,411 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Newmont were worth $1,297,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NEM. Victory Capital Management Inc. lifted its position in shares of Newmont by 14.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,101,138 shares of the basic materials company’s stock worth $154,185,000 after purchasing an additional 266,681 shares during the period. Clearstead Advisors LLC lifted its position in shares of Newmont by 8.6% in the 1st quarter. Clearstead Advisors LLC now owns 10,814 shares of the basic materials company’s stock worth $859,000 after purchasing an additional 853 shares during the period. Prospera Financial Services Inc lifted its position in shares of Newmont by 139.1% in the 1st quarter. Prospera Financial Services Inc now owns 8,607 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 5,007 shares during the period. Wolverine Asset Management LLC bought a new position in shares of Newmont during the 1st quarter worth approximately $675,000. Finally, Advisor Group Holdings Inc. raised its stake in shares of Newmont by 9.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 156,281 shares of the basic materials company’s stock worth $10,931,000 after acquiring an additional 13,755 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Newmont Stock Up 0.3 %

NYSE:NEM opened at $46.25 on Thursday. The firm has a market capitalization of $36.71 billion, a P/E ratio of 36.71 and a beta of 0.25. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37. The company’s fifty day moving average price is $42.81 and its 200-day moving average price is $51.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. As a group, equities research analysts anticipate that Newmont Co. will post 1.9 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is presently 174.60%.

Analyst Ratings Changes

Several research firms recently commented on NEM. StockNews.com began coverage on shares of Newmont in a research note on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, September 12th. They set a “buy” rating and a $53.00 price objective for the company. Barclays reduced their price objective on shares of Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday. TD Securities reduced their price objective on shares of Newmont from $49.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, November 2nd. Finally, Canaccord Genuity Group upgraded shares of Newmont from a “hold” rating to a “buy” rating and cut their price target for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.33.

Insider Buying and Selling

In related news, insider Mark Casper sold 4,890 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the sale, the insider now directly owns 18,217 shares of the company’s stock, valued at $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark Casper sold 4,890 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the sale, the insider now directly owns 18,217 shares of the company’s stock, valued at $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $129,060.00. Following the sale, the chief operating officer now directly owns 39,947 shares in the company, valued at $1,718,519.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,890 shares of company stock valued at $1,405,502. Corporate insiders own 0.11% of the company’s stock.

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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