Commerzbank Aktiengesellschaft FI Decreases Stake in Newmont Corporation $NEM

Commerzbank Aktiengesellschaft FI lessened its stake in Newmont Corporation (NYSE:NEM) by 72.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,452 shares of the basic materials company’s stock after selling 68,954 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Newmont by 55.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 606 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 216 shares during the period. Whittier Trust Co. increased its stake in Newmont by 37.0% in the 3rd quarter. Whittier Trust Co. now owns 2,952 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 797 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in Newmont in the 3rd quarter valued at approximately $352,000. CIBC Asset Management Inc raised its holdings in Newmont by 6.2% during the third quarter. CIBC Asset Management Inc now owns 256,700 shares of the basic materials company’s stock worth $21,635,000 after purchasing an additional 15,051 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in Newmont by 15.0% during the third quarter. Sagespring Wealth Partners LLC now owns 14,662 shares of the basic materials company’s stock worth $1,236,000 after purchasing an additional 1,913 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.2%

Shares of Newmont stock opened at $124.34 on Monday. Newmont Corporation has a fifty-two week low of $40.85 and a fifty-two week high of $124.64. The business’s fifty day moving average is $100.57 and its two-hundred day moving average is $84.96. 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 firm has a market cap of $135.69 billion, a PE ratio of 19.31, a P/E/G ratio of 0.95 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BNP Paribas Exane cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a research report on Friday, December 5th. Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Six investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $103.77.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the business’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 value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $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 90 days. 0.05% of the stock is owned by company insiders.

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.