Newmont Co. (NYSE:NEM) Stock Holdings Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in Newmont Co. (NYSE:NEMGet Rating) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,427 shares of the basic materials company’s stock after selling 268,976 shares during the period. Russell Investments Group Ltd.’s holdings in Newmont were worth $50,570,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Mcrae Capital Management Inc. increased its position in shares of Newmont by 3.7% in the second quarter. Mcrae Capital Management Inc. now owns 5,600 shares of the basic materials company’s stock worth $334,000 after acquiring an additional 200 shares in the last quarter. Central Bank & Trust Co. boosted its holdings in shares of Newmont by 64.3% during the second quarter. Central Bank & Trust Co. now owns 608 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 238 shares during the period. Keene & Associates Inc. boosted its holdings in shares of Newmont by 0.4% during the second quarter. Keene & Associates Inc. now owns 59,511 shares of the basic materials company’s stock worth $3,551,000 after purchasing an additional 244 shares during the period. Kerntke Otto McGlone Wealth Management Group boosted its holdings in shares of Newmont by 1.6% during the second quarter. Kerntke Otto McGlone Wealth Management Group now owns 15,790 shares of the basic materials company’s stock worth $942,000 after purchasing an additional 245 shares during the period. Finally, Glassman Wealth Services boosted its holdings in shares of Newmont by 30.1% during the second quarter. Glassman Wealth Services now owns 1,068 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 247 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Credit Suisse Group raised their price target on shares of Newmont to $54.00 in a report on Monday, November 21st. Barclays decreased their price target on shares of Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, November 21st. Eight Capital reduced their target price on shares of Newmont to $58.00 in a research note on Thursday, October 27th. Canaccord Genuity Group reiterated a “hold” rating and issued a $56.00 target price (up from $50.00) on shares of Newmont in a research note on Thursday, January 19th. Finally, Fundamental Research reiterated a “buy” rating and issued a $52.00 target price (down from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Hold” and an average target price of $63.63.

Newmont Trading Up 0.5 %

Shares of NEM stock opened at $53.63 on Tuesday. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $86.37. The firm’s fifty day simple moving average is $48.46 and its 200 day simple moving average is $46.01. The firm has a market capitalization of $42.57 billion, a P/E ratio of 42.56 and a beta of 0.27. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28.

Newmont (NYSE:NEMGet Rating) last announced its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Newmont had a return on equity of 8.07% and a net margin of 8.28%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, sell-side analysts predict that Newmont Co. will post 1.82 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 8th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is currently 174.60%.

Insider Buying and Selling

In other Newmont news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total value of $205,282.20. Following the sale, the insider now owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Newmont news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total value of $205,282.20. Following the sale, the insider now owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total transaction of $144,690.00. Following the completion of the sale, the chief operating officer now directly owns 33,947 shares in the company, valued at approximately $1,637,263.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,890 shares of company stock valued at $2,160,662. 0.11% of the stock is owned by company insiders.

Newmont Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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