Clearbridge Investments LLC Has $148.43 Million Position in Newmont Corporation $NEM

Clearbridge Investments LLC reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,486,497 shares of the basic materials company’s stock after selling 174,391 shares during the period. Clearbridge Investments LLC owned about 0.14% of Newmont worth $148,427,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NEM. Norges Bank acquired a new stake in shares of Newmont during the 4th quarter valued at about $1,443,128,000. Assetmark Inc. boosted its position in Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after buying an additional 2,294,396 shares in the last quarter. Boston Partners boosted its position in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after buying an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after buying an additional 1,914,286 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 0.1%

Shares of NYSE NEM opened at $99.77 on Monday. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88. The company has a market cap of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.65 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $111.70 and a two-hundred day moving average of $109.71.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. The Goldman Sachs Group reduced their price target on shares of Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a research report on Thursday. Jefferies Financial Group reduced their price target on shares of Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Citigroup boosted their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.07.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Insider Buying and Selling

In other Newmont news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,950 shares of company stock valued at $5,494,288. Insiders own 0.06% of the company’s stock.

About Newmont

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.