Pacer Advisors Inc. Decreases Stock Position in Newmont Corporation $NEM

Pacer Advisors Inc. cut its position in Newmont Corporation (NYSE:NEM) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,776,254 shares of the basic materials company’s stock after selling 951,516 shares during the quarter. Newmont comprises about 0.6% of Pacer Advisors Inc.’s holdings, making the stock its 18th largest position. Pacer Advisors Inc. owned about 0.35% of Newmont worth $408,779,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NEM. Pinnacle Bancorp Inc. purchased a new stake in Newmont during the first quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont in the 1st quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter valued at approximately $26,000. 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 valued at $27,000 after acquiring an additional 206 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in shares of Newmont during the third quarter worth $27,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NEM shares. Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group reduced their target price on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Macquarie Infrastructure lowered their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. BMO Capital Markets cut their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.83.

Newmont Stock Down 0.0%

Shares of NYSE NEM opened at $93.70 on Monday. The business has a 50-day moving average of $98.48 and a 200-day moving average of $109.43. The firm has a market capitalization of $98.73 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.05 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $61.76 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the company earned $1.43 EPS. Sell-side analysts expect that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,882 shares of company stock valued at $1,001,952. 0.06% of the stock is owned by insiders.

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.