Liontrust Investment Partners LLP Lowers Position in Newmont Corporation $NEM

Liontrust Investment Partners LLP trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 63.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,993 shares of the basic materials company’s stock after selling 198,268 shares during the period. Liontrust Investment Partners LLP’s holdings in Newmont were worth $10,460,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the first quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter worth approximately $25,000. Clearstead Trust LLC purchased a new stake in Newmont during the 2nd quarter valued at $25,000. Swiss RE Ltd. bought a new stake in shares of Newmont in the 4th quarter worth about $26,000. Finally, Kilter Group LLC purchased a new position in shares of Newmont during the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares in the company, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock valued at $3,292,513 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. National Bank Financial cut their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a research report on Friday, August 14th. Barclays reduced their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

Newmont Trading Down 3.4%

Shares of NYSE:NEM opened at $127.84 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $134.70 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. Newmont Corporation has a 1 year low of $72.78 and a 1 year high of $135.29. The business’s 50 day moving average price is $104.23 and its 200-day moving average price is $109.57.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, equities research analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

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.