North Star Investment Management Corp. Sells 8,583 Shares of Newmont Corporation $NEM

North Star Investment Management Corp. decreased its holdings in Newmont Corporation (NYSE:NEM) by 27.8% during the first quarter, HoldingsChannel.com reports. The firm owned 22,293 shares of the basic materials company’s stock after selling 8,583 shares during the quarter. North Star Investment Management Corp.’s holdings in Newmont were worth $2,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Apella Capital LLC grew its holdings in shares of Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC lifted its holdings in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after buying an additional 88 shares in the last quarter. Novem Group lifted its holdings in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after buying an additional 88 shares in the last quarter. Norden Group LLC boosted its position in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Down 0.0%

Shares of Newmont stock opened at $96.09 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market cap of $102.58 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.59 and a beta of 0.42. The firm’s 50-day moving average is $107.94 and its two-hundred day moving average is $110.94. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is 13.49%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. TD raised their target price on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. National Bank Financial lifted their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Scotiabank dropped their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Finally, TD Securities restated a “hold” rating and set a $129.00 price objective on shares of Newmont in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.50.

Newmont Company 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.