K.J. Harrison & Partners Inc Sells 8,043 Shares of Newmont Corporation $NEM

K.J. Harrison & Partners Inc lowered its position in Newmont Corporation (NYSE:NEM) by 5.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 133,244 shares of the basic materials company’s stock after selling 8,043 shares during the period. Newmont accounts for about 1.7% of K.J. Harrison & Partners Inc’s holdings, making the stock its 11th biggest position. K.J. Harrison & Partners Inc’s holdings in Newmont were worth $11,516,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Estate Counselors LLC bought a new position in shares of Newmont in the third quarter worth $4,182,000. AustralianSuper Pty Ltd lifted its holdings in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after purchasing an additional 44,846 shares during the period. Envestnet Asset Management Inc. boosted its stake in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 0.5%

Shares of NYSE:NEM opened at $124.76 on Thursday. The stock has a 50 day moving average price of $114.64 and a 200-day moving average price of $94.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The firm has a market capitalization of $135.72 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.06 and a beta of 0.40. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the business posted $1.40 EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio (DPR) is presently 15.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NEM shares. BMO Capital Markets cut their price objective on shares of Newmont from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group boosted their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. UBS Group reiterated a “buy” rating and set a $160.00 price objective on shares of Newmont in a research report on Friday, January 30th. Argus increased their target price on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Finally, Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $132.88.

About Newmont

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.