Newmont Corporation $NEM Shares Sold by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd lowered its position in Newmont Corporation (NYSE:NEM) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,000 shares of the basic materials company’s stock after selling 563 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Newmont were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its holdings 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 valued at $912,000 after acquiring an additional 5,848 shares during the last quarter. Generate Investment Management Ltd boosted its holdings in 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 acquiring an additional 77,865 shares during the last quarter. Bessemer Group Inc. boosted its holdings in 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 acquiring an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Newmont in the first quarter valued at $423,000. Finally, Spire Wealth Management boosted its holdings in 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 acquiring an additional 1,309 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 7.6%

Shares of NYSE NEM opened at $90.76 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The firm has a market cap of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.07 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock’s 50-day simple moving average is $79.24 and its 200-day simple moving average is $63.97.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NEM. Scotiabank lifted their target price on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. Citigroup boosted their price objective on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America boosted their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Finally, Royal Bank Of Canada upgraded Newmont from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.59.

Insider Transactions at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the business’s 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 completion of the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by insiders.

About Newmont

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.