Valicenti Advisory Services Inc. Sells 13,354 Shares of Newmont Corporation $NEM

Valicenti Advisory Services Inc. trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 13.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 86,521 shares of the basic materials company’s stock after selling 13,354 shares during the quarter. Newmont comprises about 1.6% of Valicenti Advisory Services Inc.’s portfolio, making the stock its 22nd biggest holding. Valicenti Advisory Services Inc.’s holdings in Newmont were worth $7,295,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NEM. Norges Bank bought a new stake in Newmont during the second quarter worth about $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after buying an additional 4,839,447 shares in the last quarter. Amundi boosted its position in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares in the last quarter. Legal & General Group Plc increased its stake in Newmont by 6.3% in the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after acquiring an additional 438,748 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in Newmont by 1.7% during the first quarter. Orbis Allan Gray Ltd now owns 5,672,683 shares of the basic materials company’s stock valued at $273,877,000 after purchasing an additional 92,387 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM stock opened at $105.79 on Friday. The business’s 50-day moving average price is $90.38 and its 200-day moving average price is $77.49. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $106.34. The firm has a market capitalization of $115.44 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.74 and a beta of 0.41. 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 (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The company 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 firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 22nd. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. TD Securities raised their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $96.37.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,240 shares of company stock valued at $943,985 in the last ninety days. Insiders own 0.05% of the company’s stock.

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.