Donoghue Forlines LLC Decreases Position in Newmont Corporation $NEM

Donoghue Forlines LLC trimmed its position in Newmont Corporation (NYSE:NEM) by 45.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,695 shares of the basic materials company’s stock after selling 22,999 shares during the period. Newmont comprises about 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 22nd largest holding. Donoghue Forlines LLC’s holdings in Newmont were worth $2,335,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares during the period. Knights of Columbus Asset Advisors LLC increased its position in shares of Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares during the period. Generate Investment Management Ltd lifted its position in Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after buying an additional 77,865 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Newmont by 73.3% during the third quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock worth $2,534,000 after buying an additional 12,717 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. The Goldman Sachs Group lifted their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Citigroup restated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Newmont in a research note on Sunday, December 7th. Finally, Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $99.35.

Newmont Trading Down 0.0%

NYSE NEM opened at $114.17 on Friday. Newmont Corporation has a 52 week low of $40.85 and a 52 week high of $115.70. The firm has a 50 day moving average of $97.58 and a two-hundred day moving average of $82.68. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $124.59 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41.

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, topping the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction 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 sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on 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 owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,160 shares of company stock worth $767,206. Company insiders own 0.05% of the company’s stock.

About Newmont

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.