111 Capital Cuts Stock Position in Newmont Corporation $NEM

111 Capital trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 80.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,257 shares of the basic materials company’s stock after selling 26,038 shares during the period. 111 Capital’s holdings in Newmont were worth $528,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co grew its stake in shares of Newmont by 18.5% during the third quarter. Elo Mutual Pension Insurance Co now owns 139,218 shares of the basic materials company’s stock valued at $11,737,000 after buying an additional 21,706 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Newmont in the third quarter valued at approximately $433,000. Cobblestone Capital Advisors LLC NY bought a new position in shares of Newmont in the third quarter worth approximately $330,000. Journey Strategic Wealth LLC purchased a new position in shares of Newmont in the third quarter worth $460,000. Finally, Waverton Investment Management Ltd raised its holdings in Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after buying an additional 23,139 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the company from $121.00 to $157.00 in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Argus boosted their price target on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $129.73.

Newmont Trading Down 0.9%

Shares of NYSE:NEM opened at $128.82 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. Newmont Corporation has a 1 year low of $41.93 and a 1 year high of $134.88. The company has a market cap of $140.14 billion, a P/E ratio of 20.16, a PEG ratio of 1.08 and a beta of 0.39. The stock’s fifty day moving average price is $116.26 and its 200-day moving average price is $95.77.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter last year, the firm posted $1.40 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 15.65%.

Newmont 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.