Valicenti Advisory Services Inc. Has $7.30 Million Holdings in Newmont Corporation $NEM

Valicenti Advisory Services Inc. lowered its position in Newmont Corporation (NYSE:NEM) by 13.4% during the third quarter, Holdings Channel reports. The firm owned 86,521 shares of the basic materials company’s stock after selling 13,354 shares during the period. Newmont comprises 1.6% of Valicenti Advisory Services Inc.’s portfolio, making the stock its 22nd largest holding. Valicenti Advisory Services Inc.’s holdings in Newmont were worth $7,295,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Newmont during the second quarter worth $919,170,000. Invesco Ltd. grew its holdings in Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares during the period. Amundi raised its position in shares of Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after purchasing an additional 438,748 shares during the period. Finally, Orbis Allan Gray Ltd boosted its position in shares of Newmont by 1.7% during the 1st quarter. Orbis Allan Gray Ltd now owns 5,672,683 shares of the basic materials company’s stock valued at $273,877,000 after purchasing an additional 92,387 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEM shares. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price on the stock. in a research report on Friday, December 5th. Royal Bank Of Canada increased their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $96.37.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the 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 represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’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 transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,240 shares of company stock valued at $943,985. Insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $105.79 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $106.34. 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 business has a 50 day moving average price of $90.38 and a 200-day moving average price of $77.49. The company has a market cap of $115.44 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Newmont Company 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.