CoreCap Advisors LLC Sells 12,161 Shares of Newmont Co. (NYSE:NEM)

CoreCap Advisors LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,836 shares of the basic materials company’s stock after selling 12,161 shares during the period. CoreCap Advisors LLC’s holdings in Newmont were worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NEM. Norges Bank purchased a new stake in Newmont in the 4th quarter worth about $626,074,000. Capital Research Global Investors increased its stake in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newmont in the fourth quarter valued at approximately $76,281,000. Invesco Ltd. lifted its stake in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Finally, Allianz SE bought a new position in Newmont in the 4th quarter worth approximately $65,385,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Scotiabank reaffirmed a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Finally, TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $55.63.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is currently owned by insiders.

Newmont Trading Down 2.1 %

Shares of NEM opened at $52.84 on Friday. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm has a market cap of $58.81 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.41 and a beta of 0.31. The firm has a 50 day moving average price of $49.47 and a 200-day moving average price of $45.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.