Newmont Co. (NYSE:NEM) Stock Holdings Lessened by Belpointe Asset Management LLC

Belpointe Asset Management LLC cut its position in Newmont Co. (NYSE:NEM) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,580 shares of the basic materials company’s stock after selling 330 shares during the quarter. Belpointe Asset Management LLC’s holdings in Newmont were worth $226,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NEM. Commonwealth Equity Services LLC lifted its position in Newmont by 14.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 75,962 shares of the basic materials company’s stock valued at $4,578,000 after purchasing an additional 9,860 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Newmont by 44.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 334,314 shares of the basic materials company’s stock valued at $20,149,000 after purchasing an additional 103,254 shares during the last quarter. Natixis Advisors L.P. lifted its position in Newmont by 2.1% in the 1st quarter. Natixis Advisors L.P. now owns 197,927 shares of the basic materials company’s stock valued at $11,929,000 after purchasing an additional 4,138 shares during the last quarter. Commerce Bank increased its stake in Newmont by 0.4% during the 1st quarter. Commerce Bank now owns 37,549 shares of the basic materials company’s stock valued at $2,263,000 after buying an additional 166 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in Newmont by 12.6% during the 1st quarter. Standard Life Aberdeen plc now owns 383,191 shares of the basic materials company’s stock valued at $23,097,000 after buying an additional 42,984 shares during the period. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Shares of NEM opened at $57.20 on Wednesday. Newmont Co. has a one year low of $54.18 and a one year high of $75.31. The company has a 50-day moving average of $59.75 and a two-hundred day moving average of $63.11. The stock has a market cap of $45.71 billion, a price-to-earnings ratio of 16.02 and a beta of 0.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 2.33.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 22nd. The basic materials company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. Analysts anticipate that Newmont Co. will post 3.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Wednesday, September 8th. Newmont’s payout ratio is 82.71%.

Several research firms have commented on NEM. Canaccord Genuity lowered their target price on shares of Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, July 23rd. Raymond James set a $82.00 target price on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, July 23rd. UBS Group set a $64.00 target price on shares of Newmont and gave the company a “neutral” rating in a research note on Friday, July 23rd. National Bank Financial lowered their price objective on shares of Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a research note on Friday, July 16th. Finally, TD Securities cut shares of Newmont from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $74.00 to $70.00 in a research note on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Buy” and an average price target of $72.63.

In related news, CEO Thomas Ronald Palmer sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $64.00, for a total transaction of $448,000.00. Following the completion of the sale, the chief executive officer now directly owns 264,525 shares in the company, valued at $16,929,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Blake Rhodes sold 500 shares of Newmont stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $58.10, for a total transaction of $29,050.00. Following the completion of the sale, the senior vice president now owns 48,726 shares of the company’s stock, valued at $2,830,980.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,588 shares of company stock valued at $1,610,567. Corporate insiders own 0.12% of the company’s stock.

Newmont Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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