Intech Investment Management LLC Sells 14,798 Shares of Newmont Corporation $NEM

Intech Investment Management LLC decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 174,053 shares of the basic materials company’s stock after selling 14,798 shares during the period. Intech Investment Management LLC’s holdings in Newmont were worth $17,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after acquiring an additional 637,996 shares during the period. Geode Capital Management LLC lifted its stake in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after purchasing an additional 946,824 shares during the period. Legal & General Group Plc boosted its position in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock worth $687,223,000 after purchasing an additional 711,940 shares during the last quarter. Boston Partners boosted its position in shares of Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Newmont by 16.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock worth $498,928,000 after purchasing an additional 692,560 shares during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of several analyst reports. Canadian Imperial Bank of Commerce cut their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. The Goldman Sachs Group boosted their target price on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Bank of America lifted their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, TD Securities restated a “hold” rating and set a $129.00 price objective on shares of Newmont in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Newmont Price Performance

Shares of NEM opened at $108.32 on Friday. The stock has a 50 day simple moving average of $110.82 and a 200 day simple moving average of $108.95. Newmont Corporation has a 52-week low of $51.80 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market capitalization of $115.64 billion, a PE ratio of 14.05 and a beta of 0.43.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Insider Activity at Newmont

In other 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 sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents 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 quarter. 0.06% of the stock is currently owned by company insiders.

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.