JFS Wealth Advisors LLC Lowers Stock Position in Newmont Corporation (NYSE:NEM)

JFS Wealth Advisors LLC cut its position in shares of Newmont Corporation (NYSE:NEMFree Report) by 84.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 626 shares of the basic materials company’s stock after selling 3,382 shares during the period. JFS Wealth Advisors LLC’s holdings in Newmont were worth $30,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Newmont during the fourth quarter valued at $626,074,000. Voloridge Investment Management LLC purchased a new position in Newmont during the fourth quarter valued at $92,693,000. Capital Research Global Investors lifted its holdings in Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock valued at $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Newmont during the fourth quarter valued at $76,281,000. Finally, Invesco Ltd. lifted its holdings in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares in the company, valued at $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company’s stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last three months. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NEM. Scotiabank reissued a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. BMO Capital Markets reissued an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Finally, Cfra Research raised shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.68.

View Our Latest Research Report on Newmont

Newmont Price Performance

Newmont stock opened at $58.12 on Wednesday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31. The stock has a market cap of $64.69 billion, a P/E ratio of 13.03, a PEG ratio of 0.78 and a beta of 0.31. The company has a 50-day moving average price of $54.02 and a 200 day moving average price of $47.23. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEMGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $0.55 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont’s payout ratio is currently 22.42%.

About Newmont

(Free Report)

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, Papua New Guinea, Ecuador, Fiji, and Ghana.

Further Reading

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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