Newmont Corporation $NEM Shares Sold by TSP Capital Management Group LLC

TSP Capital Management Group LLC cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,816 shares of the basic materials company’s stock after selling 16,793 shares during the quarter. Newmont makes up approximately 2.4% of TSP Capital Management Group LLC’s holdings, making the stock its 19th largest holding. TSP Capital Management Group LLC’s holdings in Newmont were worth $9,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Newmont in the second quarter valued at $919,170,000. Invesco Ltd. raised its stake in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners lifted its position in shares of Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares in the last quarter. Finally, LSV Asset Management bought a new stake in Newmont in the second quarter valued at about $187,206,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BNP Paribas lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Citigroup lifted their price objective on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Royal Bank Of Canada boosted their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. National Bankshares raised their price target on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, UBS Group boosted their price objective on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $97.08.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on 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 directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on 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 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. Insiders sold a total of 9,160 shares of company stock valued at $767,206 in the last quarter. 0.05% of the stock is currently owned by insiders.

Newmont Stock Up 1.4%

NEM stock opened at $101.23 on Monday. The stock has a market cap of $110.46 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The firm’s 50-day simple moving average is $91.62 and its 200 day simple moving average is $79.17. Newmont Corporation has a fifty-two week low of $37.68 and a fifty-two week high of $106.34. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, sell-side 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. Investors of record on Wednesday, November 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

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.