Newmont Corporation $NEM Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC cut its stake in Newmont Corporation (NYSE:NEM) by 41.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,890 shares of the basic materials company’s stock after selling 7,832 shares during the period. Simplicity Wealth LLC’s holdings in Newmont were worth $918,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Newmont during the second quarter worth $919,170,000. Invesco Ltd. increased its position in shares of Newmont by 45.0% in the second 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. Boston Partners raised its stake in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Newmont in the 2nd quarter worth about $187,206,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Newmont by 172.2% in the 3rd 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 acquiring an additional 2,723,044 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup restated a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Argus raised their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Royal Bank Of Canada upped their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, The Goldman Sachs Group boosted their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a report on Monday, January 12th. Six equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $99.49.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% 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 currently owned by company insiders.

Newmont Stock Up 2.2%

Shares of NYSE NEM opened at $124.34 on Friday. The firm has a market cap of $135.69 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $124.64. The firm’s 50 day moving average price is $100.57 and its 200 day moving average price is $84.59.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

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.