Newmont Corporation $NEM Stake Reduced by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 40.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,500 shares of the basic materials company’s stock after selling 20,500 shares during the quarter. Newmont comprises approximately 0.7% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 20th largest position. Hussman Strategic Advisors Inc.’s holdings in Newmont were worth $3,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Robeco Institutional Asset Management B.V. grew its stake in Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Assetmark Inc. grew its stake in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the last quarter. Boston Partners grew its stake in Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after buying an additional 2,288,653 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Newmont by 106.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after buying an additional 2,146,905 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 2.3%

Shares of NEM stock opened at $108.58 on Friday. The stock has a 50-day simple moving average of $113.57 and a 200 day simple moving average of $105.47. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The stock has a market capitalization of $115.91 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.98 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares of the company’s stock, valued at $5,916,303.35. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,394 shares of company stock valued at $2,713,281 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup upped their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. TD upped their price objective on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group upped their price objective on Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Scotiabank decreased their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Finally, Raymond James Financial raised their price target on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.51.

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.