Newmont Corporation $NEM Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 17.2% in the fourth quarter, HoldingsChannel reports. The fund owned 129,539 shares of the basic materials company’s stock after selling 26,900 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Newmont were worth $12,934,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its position in shares of Newmont by 6.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock worth $164,000 after buying an additional 100 shares during the period. Harvest Portfolios Group Inc. increased its stake in Newmont by 17.6% during the fourth quarter. Harvest Portfolios Group Inc. now owns 19,357 shares of the basic materials company’s stock worth $1,933,000 after acquiring an additional 2,900 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Newmont in the 4th quarter worth about $21,893,000. PNC Financial Services Group Inc. raised its holdings in shares of Newmont by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 178,302 shares of the basic materials company’s stock worth $17,803,000 after purchasing an additional 9,225 shares during the period. Finally, Tredje AP fonden lifted its stake in shares of Newmont by 33.1% in the 4th quarter. Tredje AP fonden now owns 96,316 shares of the basic materials company’s stock valued at $9,617,000 after purchasing an additional 23,970 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEM. Jefferies Financial Group increased their target price on shares of Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Canaccord Genuity Group increased their price objective on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Argus raised their target price on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $121.00 to $157.00 in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

Insiders Place Their Bets

In related news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. This represents a 5.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $107.36 on Thursday. The firm has a market capitalization of $114.61 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88. The stock’s 50 day moving average price is $111.41 and its 200 day moving average price is $107.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Newmont Company 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.