Newmont Corporation $NEM Shares Sold by Carmel Capital Partners LLC

Carmel Capital Partners LLC cut its stake in Newmont Corporation (NYSE:NEM) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,852 shares of the basic materials company’s stock after selling 526 shares during the quarter. Carmel Capital Partners LLC’s holdings in Newmont were worth $283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its stake in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the last quarter. Generate Investment Management Ltd grew its holdings in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the period. Bessemer Group Inc. grew its holdings in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after purchasing an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newmont during the 1st quarter worth $423,000. Finally, Spire Wealth Management grew its holdings in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 1,309 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock opened at $90.76 on Friday. The business has a 50-day moving average of $79.24 and a 200 day moving average of $63.97. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The stock has a market capitalization of $99.69 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. Bank of America increased their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup increased their price target on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas Exane increased their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. UBS Group increased their price target on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday. Finally, BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by company insiders.

Newmont Profile

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.