Newmont Corporation $NEM Shares Sold by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC reduced its holdings in Newmont Corporation (NYSE:NEM) by 83.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,661 shares of the basic materials company’s stock after selling 27,973 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Newmont were worth $613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GoalVest Advisory LLC purchased a new stake in Newmont during the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont in the 1st quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its holdings in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Newmont during the 3rd quarter worth approximately $27,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 25,556 shares of company stock worth $2,781,006. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Down 0.1%

Shares of NYSE NEM opened at $96.95 on Friday. The company has a market capitalization of $103.50 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.61 and a beta of 0.46. 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 company has a 50 day simple moving average of $106.12 and a 200-day simple moving average of $110.78. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. On average, equities research analysts predict that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEM. Canaccord Genuity Group increased their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. BMO Capital Markets reduced their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Macquarie Infrastructure dropped their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Finally, Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $139.35.

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.