Lmcg Investments LLC Reduces Holdings in Newmont Corporation $NEM

Lmcg Investments LLC reduced its position in shares of Newmont Corporation (NYSE:NEM) by 75.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,851 shares of the basic materials company’s stock after selling 108,079 shares during the period. Lmcg Investments LLC’s holdings in Newmont were worth $2,089,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NEM. Brighton Jones LLC boosted its stake in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Newmont by 162.0% during the 1st quarter. Farther Finance Advisors LLC now owns 16,382 shares of the basic materials company’s stock worth $791,000 after purchasing an additional 10,130 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Newmont by 22.2% during the 1st quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company’s stock worth $1,021,000 after purchasing an additional 3,840 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of Newmont during the 1st quarter worth about $339,000. Finally, CX Institutional boosted its stake in shares of Newmont by 28.7% during the 1st quarter. CX Institutional now owns 6,657 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 1,483 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group raised their target price on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Finally, UBS Group raised their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.10.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Trading Down 0.2%

Shares of NEM stock opened at $85.07 on Friday. The stock has a market cap of $93.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37. The firm’s 50 day moving average price is $76.77 and its two-hundred day moving average price is $62.55.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.