Newmont Corporation $NEM Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in Newmont Corporation (NYSE:NEM) by 49.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,843 shares of the basic materials company’s stock after buying an additional 62,488 shares during the quarter. Cerity Partners LLC’s holdings in Newmont were worth $15,837,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NEM. Norges Bank acquired a new position in Newmont during the second quarter worth about $919,170,000. Invesco Ltd. grew its holdings 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 worth $908,152,000 after acquiring an additional 4,839,447 shares during the period. Legal & General Group Plc grew its holdings in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after acquiring an additional 438,748 shares during the period. Assenagon Asset Management S.A. increased its stake in Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after purchasing an additional 4,399,778 shares in the last quarter. Finally, Boston Partners raised its holdings in 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. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $108.99 on Friday. The firm’s 50 day moving average is $94.34 and its two-hundred day moving average is $80.57. The company has a market cap of $118.94 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.79 and a beta of 0.41. 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 Corporation has a fifty-two week low of $38.53 and a fifty-two week high of $109.30.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.35% and a net margin of 33.42%.Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. Analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid 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 yield of 0.9%. Newmont’s payout ratio is presently 15.53%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 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.

Analysts Set New Price Targets

Several analysts have weighed in on NEM shares. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial reiterated an “outperform” rating and issued a $111.00 price objective on shares of Newmont in a research report on Monday, December 29th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. UBS Group lifted their target price on shares of Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $97.08.

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.