Newmont Co. (NYSE:NEM) Shares Sold by Jacobi Capital Management LLC

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 (NYSE:NEM – Get Rating) last released its quarterly earnings data on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, equities research analysts expect that Newmont Co. will post 2.61 EPS for the current year.

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%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and lowered their price target for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. 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. National Bankshares reduced their target price on Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 26th. 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. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Hold” and an average price target of $70.37.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total value of $744,040.00. Following the completion of the sale, the chief executive officer now directly owns 276,949 shares in the company, valued at approximately $18,732,830.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $45.35, for a total value of $136,050.00. Following the completion of the sale, the chief operating officer now directly owns 48,947 shares in the company, valued at approximately $2,219,746.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $67.64, for a total value of $744,040.00. Following the completion of the sale, the chief executive officer now owns 276,949 shares of the company’s stock, valued at $18,732,830.36. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock worth $3,295,400 in the last ninety days. Insiders own 0.11% of the company’s stock.

Newmont Company Profile

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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.