Newmont Corporation $NEM Shares Sold by Capital Research Global Investors

Capital Research Global Investors lessened its stake in Newmont Corporation (NYSE:NEM) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,613,450 shares of the basic materials company’s stock after selling 534,397 shares during the quarter. Capital Research Global Investors owned approximately 0.33% of Newmont worth $360,803,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Apella Capital LLC raised its stake in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC raised its stake in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group raised its stake in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC raised its stake in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners raised its stake in shares of Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, UBS Group lowered their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.07.

Insider Transactions at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 49,950 shares of company stock worth $5,494,288 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $99.77 on Monday. Newmont Corporation has a fifty-two week low of $52.08 and a fifty-two week high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. 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 firm has a 50-day simple moving average of $111.70 and a 200 day simple moving average of $109.71.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS 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 firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is 13.49%.

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.