Newmont Corporation $NEM is Robinson Value Management Ltd.’s 2nd Largest Position

Robinson Value Management Ltd. decreased its position in shares of Newmont Corporation (NYSE:NEM) by 34.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 70,158 shares of the basic materials company’s stock after selling 36,724 shares during the period. Newmont accounts for about 3.4% of Robinson Value Management Ltd.’s holdings, making the stock its 2nd largest position. Robinson Value Management Ltd.’s holdings in Newmont were worth $5,915,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the period. Farther Finance Advisors LLC boosted its holdings in Newmont by 73.3% in the third quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after purchasing an additional 12,717 shares during the last quarter. Finally, Generate Investment Management Ltd increased its position in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were 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 of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated 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 approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,160 shares of company stock worth $767,206 over the last quarter. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Bank of America upped their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Citigroup reiterated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Royal Bank Of Canada raised their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $99.35.

Newmont Trading Down 0.0%

NYSE NEM opened at $114.17 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $98.10 and a 200-day moving average price of $83.22. Newmont Corporation has a 52 week low of $40.85 and a 52 week high of $115.70. The company has a market cap of $124.59 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 0.80 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share 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 analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

About Newmont

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.