Blair William & Co. IL Sells 5,091 Shares of Newmont Corporation $NEM

Blair William & Co. IL lessened its stake in Newmont Corporation (NYSE:NEM) by 16.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,061 shares of the basic materials company’s stock after selling 5,091 shares during the quarter. Blair William & Co. IL’s holdings in Newmont were worth $2,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Physician Wealth Advisors Inc. increased its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Capital A Wealth Management LLC lifted its stake in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the last quarter. Caldwell Trust Co bought a new position in shares of Newmont in the 2nd quarter valued at about $31,000. Country Trust Bank bought a new position in shares of Newmont in the 2nd quarter valued at about $32,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Newmont during the 2nd quarter worth about $32,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEM shares. BNP Paribas Exane upped their target price on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. National Bank Financial lifted their price target on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Raymond James Financial boosted their price target on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. The Goldman Sachs Group upped their price objective on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $134.15.

Newmont Stock Performance

NYSE NEM opened at $114.26 on Friday. The stock has a market cap of $124.30 billion, a PE ratio of 17.88, a P/E/G ratio of 0.90 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The firm has a 50-day moving average of $118.56 and a 200-day moving average of $98.06. Newmont Corporation has a 52-week low of $42.93 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

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.