Marathon Asset Management Ltd Sells 126,742 Shares of Newmont Corporation $NEM

Marathon Asset Management Ltd lowered its position in shares of Newmont Corporation (NYSE:NEM) by 42.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 174,701 shares of the basic materials company’s stock after selling 126,742 shares during the quarter. Marathon Asset Management Ltd’s holdings in Newmont were worth $14,729,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its position in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new position in Newmont in the second quarter valued at approximately $31,000. Finally, Country Trust Bank bought a new position in Newmont in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont 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 transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s 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 completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade 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 worth $943,985. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Up 1.0%

Shares of Newmont stock opened at $105.79 on Monday. The company has a market capitalization of $115.44 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The business has a 50-day moving average of $90.38 and a two-hundred day moving average of $77.66. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $106.34.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 15.53%.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Argus increased their target price on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Bank of America increased their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Buy” and a consensus target price of $96.37.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.