Newmont Corporation (NYSE:NEM) Stake Trimmed by Cerity Partners LLC

Cerity Partners LLC cut its position in shares of Newmont Corporation (NYSE:NEM) by 14.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,013 shares of the basic materials company’s stock after selling 10,437 shares during the quarter. Cerity Partners LLC’s holdings in Newmont were worth $2,897,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. lifted its position in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Newmont in the 1st quarter worth about $26,000. Private Trust Co. NA raised its position in Newmont by 122.6% during the first 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. Nexus Investment Management ULC acquired a new position in shares of Newmont during the 1st quarter worth $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont during the 1st quarter valued at $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of Newmont stock opened at $58.22 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The company has a market cap of $64.80 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.33. The firm has a fifty day moving average price of $55.83 and a two-hundred day moving average price of $49.63. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $61.17.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period last year, the business earned $0.55 earnings per share. Analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont’s dividend payout ratio is presently 22.42%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEM shares. Raymond James Financial reiterated an “outperform” rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. UBS Group increased their price objective on Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Scotiabank restated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. Finally, Royal Bank Of Canada increased their price target on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $62.49.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president directly owned 77,526 shares of the company’s stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,231 shares of company stock valued at $679,813 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

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.