Neuberger Berman Group LLC Sells 33,015 Shares of Newmont Co. (NYSE:NEM)

Neuberger Berman Group LLC cut its position in Newmont Co. (NYSE:NEM) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,944,923 shares of the basic materials company’s stock after selling 33,015 shares during the period. Neuberger Berman Group LLC’s holdings in Newmont were worth $122,130,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NEM. Johnson Investment Counsel Inc. increased its stake in shares of Newmont by 4.5% in the first quarter. Johnson Investment Counsel Inc. now owns 3,702 shares of the basic materials company’s stock valued at $223,000 after buying an additional 160 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of Newmont by 3.6% in the second quarter. Atlas Capital Advisors LLC now owns 5,190 shares of the basic materials company’s stock valued at $329,000 after buying an additional 180 shares during the period. Integrated Advisors Network LLC increased its stake in shares of Newmont by 5.7% in the second quarter. Integrated Advisors Network LLC now owns 3,599 shares of the basic materials company’s stock valued at $228,000 after buying an additional 194 shares during the period. FLC Capital Advisors increased its stake in shares of Newmont by 2.9% in the second quarter. FLC Capital Advisors now owns 7,120 shares of the basic materials company’s stock valued at $451,000 after buying an additional 200 shares during the period. Finally, Clarius Group LLC increased its stake in shares of Newmont by 2.5% in the second quarter. Clarius Group LLC now owns 9,096 shares of the basic materials company’s stock valued at $577,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Several brokerages have recently weighed in on NEM. Canaccord Genuity decreased their price target on Newmont from $74.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, July 23rd. UBS Group set a $64.00 price target on Newmont and gave the company a “neutral” rating in a research note on Friday, July 23rd. National Bank Financial decreased their target price on Newmont from C$108.00 to C$105.00 and set an “outperform” rating for the company in a research note on Friday, July 16th. Zacks Investment Research cut Newmont from a “hold” rating to a “sell” rating and set a $63.00 target price for the company. in a research note on Tuesday, July 27th. Finally, KeyCorp initiated coverage on Newmont in a research note on Friday, September 24th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Hold” and an average price target of $72.00.

In other news, EVP Jennifer Cmil sold 597 shares of the firm’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $61.00, for a total value of $36,417.00. Following the transaction, the executive vice president now owns 17,346 shares in the company, valued at $1,058,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 30th. The shares were sold at an average price of $52.29, for a total value of $522,900.00. The disclosure for this sale can be found here. Insiders sold 21,588 shares of company stock worth $1,177,877 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Shares of Newmont stock opened at $56.37 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.33 and a current ratio of 2.67. Newmont Co. has a 52 week low of $53.03 and a 52 week high of $75.31. The stock has a 50 day moving average price of $56.63 and a two-hundred day moving average price of $62.43. The stock has a market capitalization of $45.05 billion, a PE ratio of 15.79 and a beta of 0.23.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 22nd. The basic materials company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. Newmont had a return on equity of 11.78% and a net margin of 23.00%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Research analysts forecast that Newmont Co. will post 3.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Thursday, September 9th were paid a $0.55 dividend. The ex-dividend date was Wednesday, September 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.90%. Newmont’s dividend payout ratio (DPR) is presently 82.71%.

Newmont Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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