Newmont Corporation $NEM Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its position in Newmont Corporation (NYSE:NEM) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,823 shares of the basic materials company’s stock after selling 5,717 shares during the period. Meyer Handelman Co.’s holdings in Newmont were worth $24,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP raised its stake in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Newmont during the 2nd quarter worth $240,000. Cerity Partners LLC boosted its position in shares of Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Canadian Imperial Bank of Commerce set a $175.00 price target on shares of Newmont and gave the company an “outperform” rating in a report on Monday, June 1st. National Bank Financial increased their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada cut their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders have sold 28,556 shares of company stock valued at $3,120,276. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Up 1.3%

Shares of NYSE NEM opened at $95.26 on Friday. The firm has a market cap of $101.69 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. 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 Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The firm’s 50 day moving average price is $108.28 and its 200 day moving average price is $110.89.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share 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 company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

About Newmont

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.