Sienna Gestion Has $1.04 Million Holdings in Newmont Corporation $NEM

Sienna Gestion cut its holdings in Newmont Corporation (NYSE:NEM) by 22.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,476 shares of the basic materials company’s stock after selling 5,795 shares during the quarter. Sienna Gestion’s holdings in Newmont were worth $1,036,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Advisors lifted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners lifted its stake in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC lifted its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after buying an additional 347 shares during the period. Finally, TCTC Holdings LLC lifted its stake in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after buying an additional 362 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target on the stock. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday. BNP Paribas Exane upped their price objective on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, The Goldman Sachs Group set a $104.30 price target on Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $86.92.

Newmont Stock Performance

Shares of NYSE NEM opened at $81.61 on Thursday. The stock’s 50-day moving average is $82.77 and its 200 day moving average is $67.16. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The stock has a market cap of $89.06 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company earned $0.81 EPS. Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by corporate insiders.

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.