Jacobi Capital Management LLC lowered its position in Newmont Co. (NYSE:NEM – Get Rating) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,655 shares of the basic materials company’s stock after selling 411 shares during the period. Jacobi Capital Management LLC’s holdings in Newmont were worth $370,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new stake in shares of Newmont in the 1st quarter worth approximately $28,000. Central Bank & Trust Co. acquired a new stake in shares of Newmont in the 1st quarter worth approximately $29,000. Vectors Research Management LLC acquired a new stake in shares of Newmont in the 4th quarter worth approximately $25,000. Rational Advisors LLC grew its holdings in shares of Newmont by 133.7% in the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 238 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of Newmont in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 78.41% of the company’s stock.
Newmont Trading Down 1.1 %
NEM stock opened at $44.77 on Friday. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 45.22 and a beta of 0.26. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $58.51 and a 200-day simple moving average of $66.91. Newmont Co. has a 52 week low of $43.90 and a 52 week high of $86.37.
Newmont Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.91%. Newmont’s payout ratio is 222.22%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on NEM shares. TD Securities reduced their target price on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, July 26th. Sanford C. Bernstein lowered Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a research note on Monday, April 25th. Fundamental Research reaffirmed a “buy” rating and issued a $79.52 target price on shares of Newmont in a research note on Tuesday, May 10th. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Finally, Barclays reduced their target price on Newmont from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.37.
Insider Activity at Newmont
In related news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the completion of the sale, the chief financial officer now directly owns 39,530 shares in the company, valued at approximately $2,431,095. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $66.63, for a total value of $266,520.00. Following the completion of the sale, the executive vice president now directly owns 87,753 shares in the company, valued at approximately $5,846,982.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.50, for a total value of $615,000.00. Following the sale, the chief financial officer now owns 39,530 shares of the company’s stock, valued at $2,431,095. The disclosure for this sale can be found here. In the last three months, insiders sold 56,000 shares of company stock worth $3,295,400. Corporate insiders own 0.11% of the company’s stock.
Newmont Company 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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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