Brown Advisory Inc. Reduces Holdings in Newmont Corporation $NEM

Brown Advisory Inc. lowered its position in Newmont Corporation (NYSE:NEM) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,464 shares of the basic materials company’s stock after selling 9,409 shares during the quarter. Brown Advisory Inc.’s holdings in Newmont were worth $3,639,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hemington Wealth Management lifted its stake in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares in the last quarter. IVC Wealth Advisors LLC increased its holdings in Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. boosted its stake in shares of Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after buying an additional 190 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,240 shares of company stock valued at $943,985 in the last 90 days. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NEM shares. Royal Bank Of Canada upped their price target on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. National Bankshares upped their target price on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America increased their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating and issued a $120.00 price objective on shares of Newmont in a report on Sunday. Finally, Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Buy” and an average price target of $96.37.

Newmont Stock Up 5.8%

NYSE:NEM opened at $94.15 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $87.20 and a 200-day moving average of $73.31. The firm has a market capitalization of $102.74 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

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

Newmont Announces Dividend

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

Newmont Profile

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.