Stonehearth Capital Management LLC Lowers Holdings in Newmont Corporation $NEM

Stonehearth Capital Management LLC trimmed its position in Newmont Corporation (NYSE:NEM) by 18.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,780 shares of the basic materials company’s stock after selling 1,088 shares during the period. Stonehearth Capital Management LLC’s holdings in Newmont were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Bessemer Group Inc. lifted its holdings in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after acquiring an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Newmont in the first quarter valued at $423,000. Spire Wealth Management lifted its holdings in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 1,309 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Newmont in the first quarter valued at $202,000. Finally, Bayforest Capital Ltd lifted its holdings in Newmont by 269.4% in the first quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 6,439 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on NEM. The Goldman Sachs Group reissued a “neutral” rating and issued a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Scotiabank raised their target price on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $66.00 to $95.00 in a report on Wednesday. Finally, BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.38.

Insider Buying and Selling

In related 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 transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the sale, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Down 0.5%

NYSE:NEM opened at $79.25 on Friday. The company has a market capitalization of $87.05 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $80.07. The stock has a fifty day simple moving average of $67.46 and a 200-day simple moving average of $57.05.

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, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

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.