Robertson Stephens Wealth Management LLC Has $1.25 Million Position in Newmont Corporation $NEM

Robertson Stephens Wealth Management LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,366 shares of the basic materials company’s stock after selling 1,985 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Newmont were worth $1,245,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC grew its position in Newmont by 59.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares in the last quarter. Generate Investment Management Ltd boosted its holdings in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after purchasing an additional 77,865 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the 1st quarter valued at $423,000. Finally, Spire Wealth Management boosted its holdings in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 1,309 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NEM shares. Raymond James Financial set a $96.00 target price on Newmont in a report on Friday. Stifel Canada raised Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Scotiabank raised their target price on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a report on Friday. Finally, Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $81.10.

Newmont Trading Down 0.2%

NYSE NEM opened at $85.07 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $89.37. The company has a market cap of $93.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.34. The business’s fifty day moving average is $76.77 and its 200 day moving average is $62.44.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 in the last three months. Insiders own 0.05% of the company’s stock.

About Newmont

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, Papua New Guinea, Ecuador, Fiji, and Ghana.