Maj Invest Holding A S Sells 1,090,770 Shares of Newmont Corporation $NEM

Maj Invest Holding A S lessened its position in shares of Newmont Corporation (NYSE:NEM) by 57.7% during the 4th quarter, HoldingsChannel reports. The fund owned 800,450 shares of the basic materials company’s stock after selling 1,090,770 shares during the quarter. Newmont accounts for about 3.7% of Maj Invest Holding A S’s investment portfolio, making the stock its 17th largest holding. Maj Invest Holding A S’s holdings in Newmont were worth $79,925,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Newmont during the 4th quarter worth about $25,000. Physician Wealth Advisors Inc. raised its holdings in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Newmont during the 3rd quarter worth about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the 4th quarter worth about $28,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 in the last three months. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.7%

NYSE NEM opened at $109.81 on Tuesday. The stock has a 50-day simple moving average of $111.83 and a 200 day simple moving average of $107.46. The company has a market capitalization of $117.23 billion, a PE ratio of 14.24, a P/E/G ratio of 1.52 and a beta of 0.43. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $49.99 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. Research analysts forecast that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

Analysts Set New Price Targets

Several analysts have weighed in on NEM shares. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets boosted their price objective on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. UBS Group dropped their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Royal Bank Of Canada boosted their price objective on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $142.51.

Newmont 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.