Newmont Corporation $NEM Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its holdings in Newmont Corporation (NYSE:NEM) by 15.8% during the fourth quarter, Holdings Channel reports. The firm owned 129,084 shares of the basic materials company’s stock after selling 24,206 shares during the period. Profund Advisors LLC’s holdings in Newmont were worth $12,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Assetmark Inc. increased its holdings in shares of Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after buying an additional 2,294,396 shares in the last quarter. Boston Partners boosted its stake in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after acquiring an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after acquiring an additional 2,146,905 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Newmont by 142.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after acquiring an additional 1,914,286 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Newmont by 171.6% during the second quarter. AQR Capital Management LLC now owns 2,504,253 shares of the basic materials company’s stock worth $143,068,000 after purchasing an additional 1,582,324 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on NEM shares. TD raised their target price on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. BMO Capital Markets boosted their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Canaccord Genuity Group upped their price target on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Macquarie Infrastructure raised their price objective on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Bank of America boosted their target price on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.51.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,068 shares of company stock worth $4,769,475 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.7%

NEM stock opened at $109.81 on Tuesday. The firm has a market cap of $117.23 billion, a PE ratio of 14.24, a PEG ratio of 1.52 and a beta of 0.43. Newmont Corporation has a 1 year low of $49.99 and a 1 year high of $134.88. The company has a fifty day simple moving average of $111.83 and a 200 day simple moving average of $107.46. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its 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 firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. Sell-side analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 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.