F&V Capital Management LLC Lowers Holdings in Newmont Corporation $NEM

F&V Capital Management LLC lowered its holdings in Newmont Corporation (NYSE:NEM) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,505 shares of the basic materials company’s stock after selling 2,445 shares during the period. Newmont makes up about 5.0% of F&V Capital Management LLC’s holdings, making the stock its 5th biggest position. F&V Capital Management LLC’s holdings in Newmont were worth $19,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi increased its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares during the period. Invesco Ltd. increased its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after acquiring an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after acquiring an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of analyst reports. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Stifel Nicolaus assumed coverage on shares of Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 target price on the stock. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. Finally, UBS Group increased their price target on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Newmont Price Performance

Shares of Newmont stock opened at $86.35 on Friday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $87.93. The stock has a market capitalization of $94.85 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The company has a fifty day moving average of $73.95 and a 200-day moving average of $60.81. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 20.8% on a year-over-year basis. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio is 17.95%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were 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 of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction 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 sale, the director directly owned 38,949 shares of the company’s stock, valued at $2,905,205.91. The trade was a 5.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,169 shares of company stock valued at $955,286. Corporate insiders own 0.05% of the company’s stock.

Newmont 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.