Quantitative Systematic Strategies LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 63.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,318 shares of the basic materials company’s stock after selling 19,407 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Newmont were worth $717,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of NEM. Van ECK Associates Corp boosted its holdings in shares of Newmont by 0.6% during the second quarter. Van ECK Associates Corp now owns 39,930,538 shares of the basic materials company’s stock worth $2,530,797,000 after acquiring an additional 253,225 shares during the period. US Bancorp DE raised its position in shares of Newmont by 18.9% in the second quarter. US Bancorp DE now owns 102,050 shares of the basic materials company’s stock valued at $6,469,000 after buying an additional 16,255 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Newmont by 5.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 148,958 shares of the basic materials company’s stock valued at $8,977,000 after buying an additional 8,130 shares in the last quarter. Legacy Capital Partners Inc. raised its position in shares of Newmont by 20.1% in the second quarter. Legacy Capital Partners Inc. now owns 23,782 shares of the basic materials company’s stock valued at $1,507,000 after buying an additional 3,986 shares in the last quarter. Finally, Cullen Capital Management LLC raised its position in shares of Newmont by 311.6% in the first quarter. Cullen Capital Management LLC now owns 48,451 shares of the basic materials company’s stock valued at $2,920,000 after buying an additional 36,681 shares in the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.
In related news, SVP Blake Rhodes sold 500 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 value of $32,000.00. Following the completion of the transaction, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at approximately $3,219,904. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dean Gehring sold 2,991 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $60.00, for a total transaction of $179,460.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,588 shares of company stock valued at $1,610,567. 0.12% of the stock is owned by insiders.
Newmont (NYSE:NEM) last released its earnings results on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.11 billion. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The company’s revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. Equities analysts expect that Newmont Co. will post 3.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Thursday, September 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, September 8th. Newmont’s dividend payout ratio (DPR) is presently 82.71%.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Newmont from a “hold” rating to a “sell” rating and set a $63.00 target price on the stock. in a research note on Tuesday, July 27th. Canaccord Genuity cut their price target on shares of Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, July 23rd. National Bank Financial cut their price target on shares of Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a research report on Friday, July 16th. Raymond James set a $82.00 price objective on shares of Newmont and gave the company an “outperform” rating in a report on Friday, July 23rd. Finally, TD Securities lowered shares of Newmont from a “buy” rating to a “hold” rating and dropped their price objective for the company from $74.00 to $70.00 in a report on Friday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $72.63.
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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