Newmont Corporation $NEM Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,621 shares of the basic materials company’s stock after selling 12,657 shares during the period. Sterling Capital Management LLC’s holdings in Newmont were worth $6,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont during the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in Newmont in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont in the third quarter worth about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NEM shares. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Scotiabank cut their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Citigroup raised their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Macquarie Infrastructure lowered their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $140.50.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 0.8%

Newmont stock opened at $96.09 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The company has a market capitalization of $102.58 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.42. The stock has a 50-day moving average price of $107.94 and a 200 day moving average price of $110.78.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. Sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

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.