Waratah Capital Advisors Ltd. Cuts Stock Position in Newmont Co. (NYSE:NEM)

Waratah Capital Advisors Ltd. lessened its position in Newmont Co. (NYSE:NEMGet Rating) by 64.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 40,874 shares of the basic materials company’s stock after selling 73,713 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Newmont were worth $3,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its holdings in Newmont by 1.6% during the 4th quarter. State Street Corp now owns 40,349,321 shares of the basic materials company’s stock worth $2,502,465,000 after purchasing an additional 616,798 shares during the period. Flossbach Von Storch AG increased its holdings in Newmont by 0.9% during the 4th quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock worth $1,065,912,000 after purchasing an additional 147,793 shares during the period. Geode Capital Management LLC increased its holdings in Newmont by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 12,994,833 shares of the basic materials company’s stock worth $803,531,000 after purchasing an additional 330,167 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Newmont by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,105,445 shares of the basic materials company’s stock worth $750,781,000 after acquiring an additional 450,404 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Newmont by 1.6% in the 4th quarter. Northern Trust Corp now owns 11,603,788 shares of the basic materials company’s stock valued at $719,666,000 after purchasing an additional 187,315 shares during the period. Hedge funds and other institutional investors own 78.41% of the company’s stock.

Newmont Trading Down 1.1 %

Newmont stock traded down $0.51 during midday trading on Friday, reaching $44.77. The stock had a trading volume of 8,146,017 shares, compared to its average volume of 11,812,102. The stock’s 50-day simple moving average is $58.51 and its 200 day simple moving average is $66.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82. Newmont Co. has a twelve month low of $43.90 and a twelve month high of $86.37. The stock has a market capitalization of $35.53 billion, a PE ratio of 45.22 and a beta of 0.26.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings data on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.24). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts expect that Newmont Co. will post 2.61 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.91%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NEM shares. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. Fundamental Research reissued a “buy” rating and set a $79.52 target price on shares of Newmont in a research note on Tuesday, May 10th. TD Securities dropped their price objective on Newmont from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, July 26th. Credit Suisse Group downgraded Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Finally, Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and dropped their price objective for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.37.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $66.63, for a total value of $266,520.00. Following the transaction, the executive vice president now directly owns 87,753 shares of the company’s stock, valued at $5,846,982.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Stephen P. Gottesfeld sold 4,000 shares of Newmont stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $66.63, for a total transaction of $266,520.00. Following the sale, the executive vice president now directly owns 87,753 shares of the company’s stock, valued at $5,846,982.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $45.35, for a total value of $136,050.00. Following the sale, the chief operating officer now directly owns 48,947 shares in the company, valued at $2,219,746.45. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $3,295,400 over the last three months. 0.11% of the stock is owned by company insiders.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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