Clarius Group LLC Trims Holdings in Newmont Corporation $NEM

Clarius Group LLC cut its holdings in Newmont Corporation (NYSE:NEM) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,006 shares of the basic materials company’s stock after selling 472 shares during the quarter. Clarius Group LLC’s holdings in Newmont were worth $408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after purchasing an additional 1,306,783 shares in the last quarter. Northern Trust Corp increased its stake in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi increased its stake in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares in the last quarter. Invesco Ltd. increased its stake in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NYSE NEM opened at $88.60 on Tuesday. The firm’s 50-day moving average price is $74.87 and its 200-day moving average price is $61.56. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company has a market cap of $97.32 billion, a PE ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $89.37.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors 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 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Finally, BNP Paribas Exane raised their price target on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

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.