Everence Capital Management Inc. Trims Stake in Newmont Co. (NYSE:NEM)

Everence Capital Management Inc. reduced its position in shares of Newmont Co. (NYSE:NEMGet Rating) by 51.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,280 shares of the basic materials company’s stock after selling 3,500 shares during the period. Everence Capital Management Inc.’s holdings in Newmont were worth $261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Newmont by 1.6% during the 4th quarter. State Street Corp now owns 40,349,321 shares of the basic materials company’s stock valued at $2,502,465,000 after purchasing an additional 616,798 shares in the last quarter. Van ECK Associates Corp grew its position in Newmont by 6.0% in the fourth quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock worth $2,465,087,000 after acquiring an additional 2,256,671 shares in the last quarter. Flossbach Von Storch AG grew its position in Newmont by 0.9% in the fourth quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock worth $1,065,912,000 after acquiring an additional 147,793 shares in the last quarter. Geode Capital Management LLC grew its position in Newmont by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 12,994,833 shares of the basic materials company’s stock worth $803,531,000 after acquiring an additional 330,167 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Newmont by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,105,445 shares of the basic materials company’s stock worth $750,781,000 after acquiring an additional 450,404 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.

In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $66.63, for a total transaction of $266,520.00. Following the completion of the transaction, the executive vice president now owns 87,753 shares of the company’s stock, valued at $5,846,982.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Lipson sold 19,866 shares of the stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $79.00, for a total transaction of $1,569,414.00. The disclosure for this sale can be found here. Insiders have sold 61,866 shares of company stock valued at $4,569,694 in the last ninety days. Insiders own 0.11% of the company’s stock.

NEM stock opened at $64.58 on Thursday. Newmont Co. has a 1 year low of $52.60 and a 1 year high of $86.37. The company has a market cap of $51.25 billion, a P/E ratio of 49.30 and a beta of 0.37. The firm has a 50-day moving average of $69.87 and a 200 day moving average of $67.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.92 and a quick ratio of 2.53.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Newmont had a return on equity of 10.24% and a net margin of 8.53%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Newmont’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Newmont Co. will post 3.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, June 1st. Newmont’s dividend payout ratio is 167.94%.

NEM has been the subject of several research reports. StockNews.com initiated coverage on shares of Newmont in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group cut their price target on shares of Newmont from $87.00 to $80.00 in a research report on Tuesday, April 26th. Bank of America upped their price target on shares of Newmont from $70.00 to $75.00 in a research report on Monday, February 28th. Canaccord Genuity Group cut their price target on shares of Newmont from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, April 26th. Finally, Credit Suisse Group lowered shares of Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 19th. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.43.

Newmont Profile (Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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