Newmont Corporation $NEM Holdings Decreased by Brown Advisory Inc.

Brown Advisory Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,464 shares of the basic materials company’s stock after selling 9,409 shares during the quarter. Brown Advisory Inc.’s holdings in Newmont were worth $3,639,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Concord Wealth Partners lifted its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC raised its holdings in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Country Trust Bank bought a new stake in Newmont during the second quarter worth approximately $32,000. Colonial Trust Advisors lifted its position in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Finally, Financial Management Professionals Inc. boosted its stake in Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research note on Monday. TD Securities boosted their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Raymond James Financial set a $99.00 target price on shares of Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Buy” and a consensus price target of $96.37.

Newmont Price Performance

NEM stock opened at $94.15 on Wednesday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The firm has a 50-day moving average of $87.20 and a two-hundred day moving average of $73.31. The firm has a market capitalization of $102.74 billion, a PE ratio of 14.62, a P/E/G ratio of 0.62 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,240 shares of company stock valued at $943,985 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Newmont Company Profile

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.