Commerzbank Aktiengesellschaft FI Sells 68,954 Shares of Newmont Corporation $NEM

Commerzbank Aktiengesellschaft FI trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 72.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,452 shares of the basic materials company’s stock after selling 68,954 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $2,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Newmont by 26.4% in the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after buying an additional 140 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its stake in Newmont by 2.3% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 145 shares during the period. Welch Group LLC lifted its stake in Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after acquiring an additional 153 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in shares of Newmont by 3.8% in the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 163 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Raymond James Financial raised their price target on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Citigroup reiterated a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Finally, Bank of America upped their target price on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Six 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 stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus price target of $103.77.

Newmont Trading Up 2.2%

NYSE:NEM opened at $124.34 on Monday. Newmont Corporation has a 12-month low of $40.85 and a 12-month high of $124.64. 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’s 50 day simple moving average is $100.57 and its 200-day simple moving average is $84.96. The firm has a market cap of $135.69 billion, a P/E ratio of 19.31, a PEG ratio of 0.95 and a beta of 0.41.

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

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,160 shares of company stock worth $767,206. Insiders own 0.05% of the company’s stock.

Newmont Company Profile

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.