Maj Invest Holding A S Sells 669,770 Shares of Newmont Corporation $NEM

Maj Invest Holding A S decreased its position in shares of Newmont Corporation (NYSE:NEM) by 24.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,097,811 shares of the basic materials company’s stock after selling 669,770 shares during the quarter. Newmont makes up approximately 4.3% of Maj Invest Holding A S’s holdings, making the stock its 15th largest holding. Maj Invest Holding A S’s holdings in Newmont were worth $122,220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of Newmont during the first quarter valued at $26,000. Colonial Trust Advisors raised its holdings in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its position in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 over the last ninety days. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NEM shares. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Stifel Nicolaus assumed coverage on Newmont in a research report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target on the stock. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group set a $104.30 target price on Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.59.

Newmont Stock Performance

NEM stock opened at $94.92 on Tuesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $104.27 billion, a PE ratio of 17.04, a P/E/G ratio of 0.63 and a beta of 0.34. The business’s 50-day moving average price is $79.76 and its two-hundred day moving average price is $64.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $0.72 EPS. Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is currently 17.95%.

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.