Blair William & Co. IL Sells 5,091 Shares of Newmont Corporation $NEM

Blair William & Co. IL trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 16.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,061 shares of the basic materials company’s stock after selling 5,091 shares during the quarter. Blair William & Co. IL’s holdings in Newmont were worth $2,197,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Cedar Wealth Management LLC lifted its stake in Newmont by 13.5% in the third quarter. Cedar Wealth Management LLC now owns 5,786 shares of the basic materials company’s stock valued at $488,000 after buying an additional 688 shares in the last quarter. First Trust Advisors LP increased its position in shares of Newmont by 51.9% during the third quarter. First Trust Advisors LP now owns 995,834 shares of the basic materials company’s stock worth $83,959,000 after acquiring an additional 340,112 shares in the last quarter. Legacy Capital Group California Inc. increased its position in shares of Newmont by 19.1% during the third quarter. Legacy Capital Group California Inc. now owns 27,043 shares of the basic materials company’s stock worth $2,280,000 after acquiring an additional 4,344 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of Newmont by 37.4% during the third quarter. Modern Wealth Management LLC now owns 5,793 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 1,576 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Newmont by 3.0% during the third quarter. Gabelli Funds LLC now owns 2,669,537 shares of the basic materials company’s stock worth $225,069,000 after acquiring an additional 78,800 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 1.7%

Shares of NEM stock opened at $114.26 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 1 year low of $42.93 and a 1 year high of $134.88. The firm’s fifty day moving average price is $118.56 and its two-hundred day moving average price is $98.06. The firm has a market capitalization of $124.30 billion, a P/E ratio of 17.88, a PEG ratio of 0.90 and a beta of 0.39.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 16.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEM. Bank of America upped their target price on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce dropped their price target on Newmont from $71.00 to $67.00 in a research note on Friday, February 27th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Jefferies Financial Group increased their price objective on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Citigroup lifted their target price on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $134.15.

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.