Sumitomo Mitsui Trust Group Inc. Sells 43,650 Shares of Newmont Corporation $NEM

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Newmont Corporation (NYSE:NEM) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,178,698 shares of the basic materials company’s stock after selling 43,650 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Newmont worth $267,996,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC boosted its stake in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Newmont during the third quarter worth $44,000. Finally, Capital A Wealth Management LLC grew its holdings in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. 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 company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock worth $767,206 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NEM shares. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Citigroup reaffirmed a “buy” rating on shares of Newmont in a research report on Monday. National Bankshares upped their price target on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. UBS Group increased their price target on Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Argus boosted their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $97.08.

Newmont Price Performance

Newmont stock opened at $112.89 on Tuesday. Newmont Corporation has a 52 week low of $38.53 and a 52 week high of $113.72. The company’s 50 day moving average price is $94.97 and its two-hundred day moving average price is $81.26. The stock has a market cap of $123.20 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.80 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.