USS Investment Management Ltd Cuts Stock Position in Newmont Corporation $NEM

USS Investment Management Ltd lowered its stake in Newmont Corporation (NYSE:NEM) by 3.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,775 shares of the basic materials company’s stock after selling 6,778 shares during the period. USS Investment Management Ltd’s holdings in Newmont were worth $19,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. CWM LLC lifted its position in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after acquiring an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after acquiring an additional 183,360 shares in the last quarter. Leonteq Securities AG bought a new position in Newmont in the 4th quarter valued at approximately $9,018,000. Finally, Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after buying an additional 23,139 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NEM shares. Argus increased their price target on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. TD Securities reissued a “hold” rating and set a $129.00 price target on shares of Newmont in a report on Monday, April 27th. The Goldman Sachs Group lowered their price target on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Finally, BNP Paribas Exane increased their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.26.

Newmont Trading Down 0.1%

Shares of NEM stock opened at $100.10 on Monday. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market capitalization of $106.86 billion, a PE ratio of 12.98, a PEG ratio of 1.66 and a beta of 0.42. The stock has a fifty day simple moving average of $110.94 and a two-hundred day simple moving average of $110.14.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 31,556 shares of company stock worth $3,444,276. 0.06% of the stock is currently owned by corporate insiders.

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.