Newmont Corporation $NEM Shares Sold by Country Club Bank

Country Club Bank lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 34.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 58,324 shares of the basic materials company’s stock after selling 31,014 shares during the period. Country Club Bank’s holdings in Newmont were worth $3,310,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. NBC Securities Inc. lifted its stake in shares of Newmont by 108,025.0% in the 1st quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock valued at $208,000 after purchasing an additional 4,321 shares during the period. Merit Financial Group LLC boosted its holdings in Newmont by 107.8% during the first quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock worth $821,000 after buying an additional 8,817 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Newmont during the first quarter valued at $269,000. Finally, Wedmont Private Capital grew its position in Newmont by 28.9% during the first quarter. Wedmont Private Capital now owns 11,613 shares of the basic materials company’s stock valued at $561,000 after buying an additional 2,602 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last three months. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $88.60 on Tuesday. The stock has a 50 day moving average of $74.87 and a two-hundred day moving average of $61.56. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $89.37. The firm has a market cap of $97.32 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. On average, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio is 17.95%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Raymond James Financial upped their price target on Newmont from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. UBS Group raised their price objective on Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 19th. The Goldman Sachs Group boosted their price objective on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Finally, National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

About Newmont

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.