Newmont Corporation $NEM Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Newmont Corporation (NYSE:NEM) by 2.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,372 shares of the basic materials company’s stock after selling 673 shares during the quarter. Newmont comprises approximately 0.9% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 23rd biggest position. Cornercap Investment Counsel Inc.’s holdings in Newmont were worth $1,711,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Hemington Wealth Management raised its position in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares in the last quarter. IVC Wealth Advisors LLC raised its position in Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. raised its position in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock worth $1,067,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 3.4%

Newmont stock opened at $81.61 on Thursday. The stock has a market cap of $89.06 billion, a PE ratio of 12.67, a P/E/G ratio of 0.53 and a beta of 0.33. The stock has a 50-day moving average price of $82.77 and a 200 day moving average price of $67.16. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NEM shares. BNP Paribas Exane increased their price objective on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Raymond James Financial set a $99.00 price target on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average price target of $86.92.

Newmont Company 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.