Geode Capital Management LLC Sells 59,921 Shares of Newmont Corporation $NEM

Geode Capital Management LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,089,898 shares of the basic materials company’s stock after selling 59,921 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Newmont worth $1,454,689,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NEM. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 5,848 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after acquiring an additional 285,897 shares during the period. Generate Investment Management Ltd lifted its holdings in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after acquiring an additional 77,865 shares during the last quarter. Midwest Trust Co bought a new position in Newmont during the 2nd quarter valued at about $4,424,000. Finally, Banco Santander S.A. raised its holdings in shares of Newmont by 2,244.4% in the second quarter. Banco Santander S.A. now owns 128,284 shares of the basic materials company’s stock worth $7,474,000 after buying an additional 122,812 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,237 shares of company stock worth $906,799 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. BNP Paribas Exane increased their target price on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. UBS Group lifted their price target on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $88.99.

Newmont Trading Up 3.5%

Shares of NEM stock opened at $93.12 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a 50 day simple moving average of $84.05 and a 200-day simple moving average of $68.31. The company has a market cap of $101.62 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

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 net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

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.