Mutual of America Capital Management LLC Trims Stock Holdings in Newmont Corporation $NEM

Mutual of America Capital Management LLC lowered its position in Newmont Corporation (NYSE:NEM) by 7.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 149,964 shares of the basic materials company’s stock after selling 12,793 shares during the period. Mutual of America Capital Management LLC’s holdings in Newmont were worth $8,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quotient Wealth Partners LLC purchased a new stake in Newmont in the second quarter valued at approximately $289,000. Arista Wealth Management LLC purchased a new stake in shares of Newmont during the second quarter worth approximately $209,000. Stratos Wealth Partners LTD. raised its stake in shares of Newmont by 115.6% during the second quarter. Stratos Wealth Partners LTD. now owns 51,201 shares of the basic materials company’s stock worth $2,983,000 after purchasing an additional 27,456 shares during the last quarter. Praxis Investment Management Inc. raised its stake in shares of Newmont by 12.2% during the second quarter. Praxis Investment Management Inc. now owns 34,260 shares of the basic materials company’s stock worth $1,996,000 after purchasing an additional 3,730 shares during the last quarter. Finally, Stableford Capital II LLC purchased a new stake in shares of Newmont during the second quarter worth approximately $1,060,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 4.6%

NYSE:NEM opened at $94.92 on Tuesday. The stock has a fifty day moving average price of $79.76 and a two-hundred day moving average price of $64.54. The stock has a market capitalization of $104.27 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.63 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. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58.

Newmont (NYSE:NEM) last released its quarterly earnings data 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. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is 17.95%.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Citigroup upped their price target on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. UBS Group upped their price target on Newmont from $92.00 to $105.50 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 upped their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.59.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were 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 in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock valued at $1,132,065. Insiders own 0.05% of the company’s stock.

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.