Macquarie Group Ltd. Has $90.67 Million Stake in Newmont Corporation $NEM

Macquarie Group Ltd. trimmed its holdings in Newmont Corporation (NYSE:NEM) by 10.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 908,090 shares of the basic materials company’s stock after selling 106,897 shares during the period. Macquarie Group Ltd.’s holdings in Newmont were worth $90,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. BMO Capital Markets lifted their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Jefferies Financial Group lifted their price objective on shares of Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, June 8th. TD lifted their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada decreased their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $100.10 on Friday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. The company’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $109.98.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’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. On average, equities analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

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.