Newmont Corporation $NEM Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lessened its stake in Newmont Corporation (NYSE:NEM) by 0.1% in the second quarter, HoldingsChannel.com reports. The firm owned 232,178 shares of the basic materials company’s stock after selling 195 shares during the quarter. Meyer Handelman Co.’s holdings in Newmont were worth $13,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in Newmont by 4.4% during the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 190 shares during the last quarter. Hemington Wealth Management boosted its position in Newmont by 25.2% during the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 194 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. Finally, SOA Wealth Advisors LLC. increased its position in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NEM shares. CIBC boosted their price objective on shares of Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Scotiabank upped their price target on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.38.

Newmont Trading Up 0.2%

Shares of NEM opened at $83.60 on Friday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $86.62. The company has a market capitalization of $91.83 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The stock has a fifty day moving average of $71.48 and a two-hundred day moving average of $59.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s payout ratio is 17.95%.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 in the last 90 days. 0.05% of the stock is currently owned by insiders.

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.