Boston Partners Sells 244,367 Shares of Newmont Corporation $NEM

Boston Partners lessened its holdings in Newmont Corporation (NYSE:NEM) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,687,343 shares of the basic materials company’s stock after selling 244,367 shares during the period. Boston Partners owned approximately 0.61% of Newmont worth $673,010,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Newmont during the second quarter valued at $240,000. Cerity Partners LLC boosted its stake in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company’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 value of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,950 shares of company stock worth $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Citigroup boosted their target price on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group upped their price objective on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Barclays started coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective for the company. Finally, BNP Paribas Exane upped their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.26.

Newmont Price Performance

Shares of NYSE:NEM opened at $100.10 on Friday. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The company’s 50 day moving average is $110.94 and its 200 day moving average is $109.98. 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 market cap of $106.86 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

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.