Newmont Corporation $NEM Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 72.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,600 shares of the basic materials company’s stock after selling 181,400 shares during the period. Alberta Investment Management Corp’s holdings in Newmont were worth $4,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. Concord Wealth Partners grew its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its stake in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Colonial Trust Advisors increased its holdings in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its position in Newmont by 92.3% during the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 11,237 shares of company stock worth $906,799. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. TD Securities raised their price objective on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Bank of America boosted their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $88.99.

Newmont Stock Performance

Newmont stock opened at $87.74 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The company has a market cap of $95.75 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The stock’s 50-day moving average is $84.58 and its 200-day moving average is $68.92.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s payout ratio is presently 15.53%.

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.