Privium Fund Management B.V. Lowers Holdings in Newmont Co. (NYSE:NEM)

Privium Fund Management B.V. cut its position in Newmont Co. (NYSE:NEM) by 45.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,697 shares of the basic materials company’s stock after selling 4,803 shares during the quarter. Privium Fund Management B.V.’s holdings in Newmont were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Private Wealth Services LLC raised its position in shares of Newmont by 38.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 21,587 shares of the basic materials company’s stock valued at $893,000 after buying an additional 5,946 shares in the last quarter. Savant Capital LLC raised its position in shares of Newmont by 11.3% during the 4th quarter. Savant Capital LLC now owns 6,028 shares of the basic materials company’s stock valued at $250,000 after buying an additional 612 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Newmont by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,491,206 shares of the basic materials company’s stock valued at $61,721,000 after buying an additional 71,049 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Newmont by 81.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 18,566 shares of the basic materials company’s stock valued at $768,000 after buying an additional 8,347 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Newmont by 41.0% during the 4th quarter. Swiss National Bank now owns 3,603,805 shares of the basic materials company’s stock valued at $149,161,000 after buying an additional 1,047,645 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $48.00 to $59.00 in a report on Monday, August 19th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Bank of America increased their target price on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $51.46.

Newmont Trading Up 0.4 %

Shares of NYSE:NEM traded up $0.21 on Friday, hitting $53.39. The company had a trading volume of 8,672,495 shares, compared to its average volume of 6,420,627. The firm’s 50-day simple moving average is $47.43 and its two-hundred day simple moving average is $41.40. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $53.88. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $61.26 billion, a price-to-earnings ratio of -20.00, a P/E/G ratio of 0.39 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the company posted $0.33 EPS. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. Equities analysts anticipate that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Newmont’s dividend payout ratio is -37.45%.

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.