Newmont Corporation $NEM Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in Newmont Corporation (NYSE:NEM) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,739,772 shares of the basic materials company’s stock after selling 124,147 shares during the quarter. Newmont accounts for approximately 1.2% of Pacer Advisors Inc.’s holdings, making the stock its 5th biggest holding. Pacer Advisors Inc. owned about 0.52% of Newmont worth $483,920,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its stake in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 139 shares in the last quarter. Summit Financial Wealth Advisors LLC grew its stake in Newmont by 2.3% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 145 shares in the last quarter. Welch Group LLC increased its holdings in Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares during the last quarter. Hemington Wealth Management raised its position in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its stake in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after buying an additional 173 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. National Bankshares upped their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Argus lifted their price target on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $96.37.

Newmont Price Performance

NEM opened at $104.72 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $90.08 and its 200 day moving average price is $76.95. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $105.73. The firm has a market cap of $114.27 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, sell-side analysts expect 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, December 22nd. Investors of record on Wednesday, November 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,240 shares of company stock worth $943,985 over the last ninety days. 0.05% of the stock is owned by corporate insiders.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.