Yousif Capital Management LLC Sells 10,787 Shares of Newmont Corporation $NEM

Yousif Capital Management LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 7.3% during the third quarter, HoldingsChannel.com reports. The firm owned 137,414 shares of the basic materials company’s stock after selling 10,787 shares during the quarter. Yousif Capital Management LLC’s holdings in Newmont were worth $11,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Newmont in the 2nd quarter worth about $919,170,000. Invesco Ltd. increased its stake in Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners raised its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after buying an additional 4,399,778 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Newmont during the second quarter valued at approximately $187,206,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $105.22 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $114.83 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41. The firm’s 50 day moving average price is $89.73 and its 200-day moving average price is $76.56. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $105.73.

Newmont (NYSE:NEM) last announced its 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. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont’s payout ratio is 15.53%.

Analysts Set New Price Targets

NEM has been the topic of several analyst reports. Bank of America upped their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. TD Securities upped their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Royal Bank Of Canada raised their price target on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $96.37.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,240 shares of company stock valued at $943,985 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.