Pine Valley Investments Ltd Liability Co Lowers Position in Newmont Corporation $NEM

Pine Valley Investments Ltd Liability Co trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 70.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,461 shares of the basic materials company’s stock after selling 17,643 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Newmont were worth $808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP boosted its position in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC increased its holdings in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NEM opened at $97.84 on Wednesday. Newmont Corporation has a fifty-two week low of $64.96 and a fifty-two week high of $134.88. The firm’s 50 day moving average price is $97.97 and its 200 day moving average price is $109.18. The company has a market cap of $103.09 billion, a P/E ratio of 12.35, a PEG ratio of 1.06 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the business earned $1.43 EPS. On average, research analysts forecast that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio is currently 13.13%.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. 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 quarter, insiders sold 9,882 shares of company stock worth $1,001,952. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NEM. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $168.00 price target on shares of Newmont in a research note on Tuesday, July 28th. National Bank Financial lowered their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Scotiabank dropped their price objective on Newmont from $151.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Barclays cut their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.11.

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.