Commonwealth Equity Services LLC Reduces Position in Newmont Co. (NYSE:NEM)

Commonwealth Equity Services LLC cut its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,035 shares of the basic materials company’s stock after selling 12,027 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Newmont were worth $8,265,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. J2 Capital Management Inc grew its holdings in shares of Newmont by 2.4% during the first quarter. J2 Capital Management Inc now owns 5,656 shares of the basic materials company’s stock valued at $449,000 after buying an additional 130 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of Newmont by 8.7% during the first quarter. Private Capital Group LLC now owns 1,692 shares of the basic materials company’s stock valued at $135,000 after buying an additional 135 shares during the last quarter. Glassman Wealth Services boosted its holdings in Newmont by 21.8% in the first quarter. Glassman Wealth Services now owns 821 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 147 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in Newmont by 2.7% in the first quarter. Seelaus Asset Management LLC now owns 5,790 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 150 shares during the last quarter. Finally, Lee Johnson Capital Management LLC boosted its holdings in Newmont by 0.6% in the first quarter. Lee Johnson Capital Management LLC now owns 27,243 shares of the basic materials company’s stock valued at $2,164,000 after purchasing an additional 160 shares during the last quarter. 78.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. Fundamental Research reaffirmed a “buy” rating and issued a $79.52 price target on shares of Newmont in a report on Tuesday, May 10th. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and lowered their price target for the company from $66.00 to $60.00 in a report on Wednesday, July 27th. Royal Bank of Canada lowered their price target on shares of Newmont from $77.00 to $60.00 and set a “maintains” rating on the stock in a report on Tuesday, July 26th. Barclays lowered their price target on shares of Newmont from $68.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Finally, Sanford C. Bernstein downgraded shares of Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research report on Monday, April 25th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.30.

Insider Buying and Selling

In related news, EVP Stephen P. Gottesfeld sold 4,000 shares of the 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 approximately $5,846,982.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the transaction, the chief executive officer now owns 276,949 shares of the company’s stock, valued at approximately $18,732,830.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $66.63, for a total transaction of $266,520.00. Following the sale, the executive vice president now owns 87,753 shares in the company, valued at $5,846,982.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,000 shares of company stock valued at $2,660,500. Company insiders own 0.11% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $44.94 on Tuesday. The firm has a 50 day simple moving average of $60.44 and a 200-day simple moving average of $67.45. Newmont Co. has a 1-year low of $44.00 and a 1-year high of $86.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.82 and a quick ratio of 2.44. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 45.39 and a beta of 0.26.

Newmont (NYSE:NEMGet Rating) last posted its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.24). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the company earned $0.83 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts expect that Newmont Co. will post 2.61 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be paid a $0.55 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.20 annualized dividend and a dividend yield of 4.90%. Newmont’s dividend payout ratio (DPR) is 222.22%.

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.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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