Newmont Co. (NYSE:NEM) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of Newmont Co. (NYSE:NEM) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,738 shares of the basic materials company’s stock after selling 12,924 shares during the period. Truist Financial Corp’s holdings in Newmont were worth $4,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the period. Geode Capital Management LLC boosted its stake in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. FMR LLC grew its holdings in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the period. Ninety One UK Ltd increased its stake in Newmont by 27.5% in the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after purchasing an additional 744,718 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Newmont by 0.3% during the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after purchasing an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NEM shares. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Performance

Shares of NEM opened at $45.25 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business’s fifty day moving average price is $41.56 and its 200 day moving average price is $46.45. The stock has a market capitalization of $51.52 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by company 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.