Assetmark Inc. Sells 504 Shares of Newmont Co. (NYSE:NEM)

Assetmark Inc. lowered its holdings in shares of Newmont Co. (NYSE:NEMGet Rating) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,454 shares of the basic materials company’s stock after selling 504 shares during the quarter. Assetmark Inc.’s holdings in Newmont were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NEM. GQG Partners LLC raised its stake in shares of Newmont by 8.5% in the 2nd quarter. GQG Partners LLC now owns 34,781,848 shares of the basic materials company’s stock valued at $2,076,250,000 after acquiring an additional 2,710,957 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Newmont by 0.8% in the third quarter. Van ECK Associates Corp now owns 33,136,774 shares of the basic materials company’s stock worth $1,392,739,000 after buying an additional 260,505 shares during the last quarter. FMR LLC grew its stake in Newmont by 16.6% in the 2nd quarter. FMR LLC now owns 26,859,545 shares of the basic materials company’s stock valued at $1,602,709,000 after buying an additional 3,819,167 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Newmont by 7.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,023,240 shares of the basic materials company’s stock worth $1,034,697,000 after acquiring an additional 917,795 shares during the period. Finally, Amundi lifted its position in Newmont by 1.4% during the 2nd quarter. Amundi now owns 7,683,697 shares of the basic materials company’s stock worth $433,897,000 after acquiring an additional 103,806 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $53.34 on Friday. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37. The company has a 50 day moving average of $48.31 and a 200-day moving average of $46.15. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28. The firm has a market cap of $42.34 billion, a price-to-earnings ratio of 42.33 and a beta of 0.27.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. On average, equities analysts forecast that Newmont Co. will post 1.79 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Wednesday, December 7th. Newmont’s dividend payout ratio is currently 174.60%.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $473,220.00. Following the transaction, the chief executive officer now owns 221,949 shares of the company’s stock, valued at approximately $9,548,245.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total value of $129,060.00. Following the transaction, the chief operating officer now directly owns 39,947 shares of the company’s stock, valued at $1,718,519.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total transaction of $473,220.00. Following the sale, the chief executive officer now owns 221,949 shares of the company’s stock, valued at approximately $9,548,245.98. The disclosure for this sale can be found here. Insiders have sold 46,890 shares of company stock valued at $2,160,662 over the last three months. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on NEM shares. Barclays decreased their target price on Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, November 21st. Fundamental Research restated a “buy” rating and issued a $52.00 price target (down from $63.91) on shares of Newmont in a research report on Tuesday, November 15th. StockNews.com began coverage on Newmont in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $56.00 price objective (up previously from $50.00) on shares of Newmont in a research report on Thursday. Finally, Credit Suisse Group boosted their price objective on Newmont to $54.00 in a research report on Monday, November 21st. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Newmont has an average rating of “Hold” and an average target price of $63.63.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

See Also

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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