Aberdeen Group plc Decreases Stock Position in Newmont Corporation $NEM

Aberdeen Group plc reduced its position in Newmont Corporation (NYSE:NEM) by 7.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,770,961 shares of the basic materials company’s stock after selling 151,293 shares during the quarter. Aberdeen Group plc owned approximately 0.16% of Newmont worth $103,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC increased its position in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares during the last quarter. Generate Investment Management Ltd grew its position in shares of Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after purchasing an additional 77,865 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newmont in the first quarter valued at $423,000. Finally, Spire Wealth Management grew its position in shares of Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 1,309 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $85.07 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $89.37. The business has a 50-day simple moving average of $76.77 and a 200 day simple moving average of $62.44. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The stock has a market cap of $93.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.95 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s payout ratio is 17.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. BNP Paribas Exane boosted their target price on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, TD Securities boosted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.10.

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.