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

QRG Capital Management Inc. reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 54.9% in the 3rd quarter, Holdings Channel reports. The fund owned 225,792 shares of the basic materials company’s stock after selling 274,733 shares during the period. QRG Capital Management Inc.’s holdings in Newmont were worth $19,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Leavell Investment Management Inc. purchased a new stake in shares of Newmont during the third quarter worth $200,000. Ritholtz Wealth Management raised its holdings in Newmont by 114.5% in the 3rd quarter. Ritholtz Wealth Management now owns 24,402 shares of the basic materials company’s stock valued at $2,057,000 after acquiring an additional 13,024 shares during the last quarter. Wolverine Asset Management LLC grew its position in shares of Newmont by 23.9% in the third quarter. Wolverine Asset Management LLC now owns 28,500 shares of the basic materials company’s stock valued at $2,403,000 after purchasing an additional 5,500 shares in the last quarter. Live Oak Investment Partners acquired a new stake in shares of Newmont in the third quarter valued at approximately $2,232,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Newmont during the third quarter worth $302,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group lifted their price target on Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Argus increased their price target on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. 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 report on Monday, October 27th. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Finally, TD Securities increased their price objective on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $99.35.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,160 shares of company stock valued at $767,206 in the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Trading Down 0.0%

NYSE NEM opened at $114.17 on Friday. Newmont Corporation has a 12 month low of $40.85 and a 12 month high of $115.70. The company has a market capitalization of $124.59 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm’s fifty day moving average price is $97.58 and its 200 day moving average price is $82.51.

Newmont (NYSE:NEM) last posted 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. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Newmont Company 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.