Envestnet Asset Management Inc. Has $7.82 Million Stock Holdings in Newmont Corporation (NYSE:NEM)

Envestnet Asset Management Inc. cut its position in shares of Newmont Corporation (NYSE:NEM) by 20.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,063 shares of the basic materials company’s stock after selling 41,140 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Newmont were worth $7,824,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after buying an additional 1,379 shares during the last quarter. First Trust Advisors LP boosted its position in Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock valued at $3,575,000 after buying an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Newmont in the 1st quarter valued at $423,000. Spire Wealth Management boosted its position in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 59,740 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president owned 74,526 shares of the company’s stock, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Trading Up 2.9%

NYSE:NEM opened at $59.86 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.65 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $61.17. The firm has a 50-day moving average price of $55.83 and a two-hundred day moving average price of $49.80.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business posted $0.55 EPS. On average, equities analysts expect 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 was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont’s dividend payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NEM shares. Royal Bank Of Canada lifted their price target on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.49.

About Newmont

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.