Newmont Corporation $NEM Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 15.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 480,114 shares of the basic materials company’s stock after selling 84,615 shares during the period. Newmont makes up 4.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 4th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Newmont were worth $40,478,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners boosted its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $44,000. Finally, Capital A Wealth Management LLC raised its holdings in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.0%

Shares of NYSE NEM opened at $114.17 on Friday. Newmont Corporation has a 12-month low of $40.85 and a 12-month high of $115.70. The firm’s 50-day simple moving average is $97.58 and its 200 day simple moving average is $82.51. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $124.59 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on NEM shares. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Citigroup restated a “buy” rating on shares of Newmont in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and set a $120.00 target price on shares of Newmont in a research report on Sunday, December 7th. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Raymond James Financial boosted their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $99.35.

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.