Newmont Corporation $NEM Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. lessened its stake in Newmont Corporation (NYSE:NEM) by 14.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,059 shares of the basic materials company’s stock after selling 5,739 shares during the quarter. Twin Capital Management Inc.’s holdings in Newmont were worth $1,926,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Hemington Wealth Management raised its stake in Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after buying an additional 170 shares in the last quarter. IVC Wealth Advisors LLC grew its position in shares of Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Newmont by 4.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. lifted its stake in Newmont by 1.0% during the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock worth $1,067,000 after purchasing an additional 190 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price target on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. National Bankshares reissued an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Finally, The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Buy” and an average price target of $86.92.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. Company insiders own 0.05% of the company’s stock.

Newmont Stock Up 1.1%

Shares of Newmont stock opened at $82.55 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The business’s fifty day moving average price is $82.96 and its two-hundred day moving average price is $67.27. The company has a market capitalization of $90.08 billion, a P/E ratio of 12.82, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared 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 dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

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.