First Manhattan CO. LLC. Sells 387 Shares of Newmont Corporation $NEM

First Manhattan CO. LLC. decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 0.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 124,600 shares of the basic materials company’s stock after selling 387 shares during the period. First Manhattan CO. LLC.’s holdings in Newmont were worth $6,016,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Brighton Jones LLC raised its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. Lido Advisors LLC raised its position in shares of Newmont by 17.8% during the 4th quarter. Lido Advisors LLC now owns 9,821 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 1,481 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of Newmont during the 4th quarter valued at $316,000. Aptus Capital Advisors LLC bought a new stake in shares of Newmont during the 4th quarter valued at $469,000. Finally, Banque Transatlantique SA bought a new stake in shares of Newmont during the 4th quarter valued at $122,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NEM shares. Macquarie set a $72.00 price objective on shares of Newmont and gave the company a “neutral” rating in a research report on Monday. UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. CIBC set a $74.00 price objective on shares of Newmont and gave the company a “neutral” rating in a research report on Tuesday, July 15th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.15.

Newmont Stock Performance

NEM opened at $74.48 on Tuesday. The business’s 50-day moving average price is $64.21 and its two-hundred day moving average price is $55.27. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $74.52. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.88 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,169 shares of company stock valued at $1,098,636 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

About Newmont

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.