Rossby Financial LCC Has $279,000 Stock Position in Newmont Corporation $NEM

Rossby Financial LCC reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 7.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,782 shares of the basic materials company’s stock after selling 377 shares during the period. Rossby Financial LCC’s holdings in Newmont were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors raised its holdings in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Concord Wealth Partners raised its holdings in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NYSE:NEM opened at $79.26 on Wednesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $81.59 and a 200 day simple moving average of $66.08. The stock has a market capitalization of $86.49 billion, a PE ratio of 12.31, a P/E/G ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the business earned $0.81 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th 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 of this dividend is Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Weiss Ratings upgraded shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.92.

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.