Becker Capital Management Inc. Sells 98,317 Shares of Newmont Corporation $NEM

Becker Capital Management Inc. lowered its holdings in shares of Newmont Corporation (NYSE:NEM) by 14.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 579,424 shares of the basic materials company’s stock after selling 98,317 shares during the period. Newmont accounts for approximately 1.1% of Becker Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Becker Capital Management Inc.’s holdings in Newmont were worth $33,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hemington Wealth Management grew its stake in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after buying an additional 170 shares during the last quarter. IVC Wealth Advisors LLC boosted its holdings in Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 173 shares in the last quarter. L2 Asset Management LLC grew its stake in shares of Newmont by 3.6% in the second quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 174 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Newmont by 11.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 185 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,240 shares of company stock valued at $943,985. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Up 0.2%

Shares of Newmont stock opened at $94.23 on Thursday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $87.37 and its 200 day moving average is $73.46. The company has a market cap of $102.83 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.65 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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 given a $0.25 dividend. 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 dividend payout ratio (DPR) is presently 15.53%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Argus increased their price objective on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday. UBS Group upped their price objective on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $96.37.

Newmont 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.