TD Asset Management Inc Reduces Stock Holdings in Newmont Corporation $NEM

TD Asset Management Inc reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,271,402 shares of the basic materials company’s stock after selling 23,107 shares during the quarter. TD Asset Management Inc’s holdings in Newmont were worth $74,017,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of Newmont during the 1st quarter valued at about $26,000. Colonial Trust Advisors raised its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares in the last quarter. Concord Wealth Partners lifted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the period. Private Trust Co. NA boosted its position in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of Newmont during the 1st quarter worth approximately $32,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James Financial set a $96.00 price target on Newmont in a research report on Friday, October 10th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Finally, CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.66.

Newmont Trading Up 3.3%

NYSE:NEM opened at $93.49 on Thursday. The company’s 50 day moving average price is $78.22 and its 200-day moving average price is $63.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $93.93. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The stock has a market cap of $102.70 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.99 and a beta of 0.34.

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

Newmont Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

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.