Strengthening Families & Communities LLC Sells 754 Shares of Newmont Corporation $NEM

Strengthening Families & Communities LLC trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,174 shares of the basic materials company’s stock after selling 754 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Newmont were worth $127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strong Tower Advisory Services boosted its position in shares of Newmont by 4.1% during the second quarter. Strong Tower Advisory Services now owns 51,601 shares of the basic materials company’s stock worth $3,006,000 after purchasing an additional 2,021 shares in the last quarter. PDS Planning Inc bought a new position in shares of Newmont during the second quarter worth $252,000. Blue Trust Inc. boosted its position in shares of Newmont by 7.7% during the second quarter. Blue Trust Inc. now owns 15,622 shares of the basic materials company’s stock worth $910,000 after purchasing an additional 1,114 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Newmont by 4.3% during the second quarter. IFP Advisors Inc now owns 58,998 shares of the basic materials company’s stock worth $3,437,000 after acquiring an additional 2,412 shares during the period. Finally, Callan Family Office LLC raised its holdings in shares of Newmont by 252.6% during the second quarter. Callan Family Office LLC now owns 22,132 shares of the basic materials company’s stock worth $1,289,000 after acquiring an additional 15,856 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer 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 legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their position. 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 quarter. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NEM. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. The Goldman Sachs Group raised their price objective on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Finally, Scotiabank raised their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.10.

Newmont Stock Down 0.2%

Shares of NEM stock opened at $85.07 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $89.37. The firm’s fifty day moving average price is $76.77 and its two-hundred day moving average price is $62.44. The firm has a market capitalization of $93.45 billion, a P/E ratio of 15.27, a PEG ratio of 0.95 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Newmont Profile

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.