Euro Pacific Asset Management LLC Sells 70,080 Shares of Newmont Corporation $NEM

Euro Pacific Asset Management LLC lessened its stake in shares of Newmont Corporation (NYSE:NEM) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 365,598 shares of the basic materials company’s stock after selling 70,080 shares during the quarter. Newmont makes up 0.1% of Euro Pacific Asset Management LLC’s holdings, making the stock its 8th biggest holding. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $36,505,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NEM. Brighton Jones LLC increased its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the second quarter worth about $240,000. XTX Topco Ltd bought a new stake in shares of Newmont during the second quarter worth about $905,000. Finally, Choreo LLC increased its stake in shares of Newmont by 16.9% in the second quarter. Choreo LLC now owns 14,995 shares of the basic materials company’s stock valued at $874,000 after buying an additional 2,171 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $108.00, for a total transaction of $324,000.00. Following the completion of the sale, the executive vice president directly owned 55,315 shares in the company, valued at approximately $5,974,020. This trade represents a 5.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NEM shares. Citigroup lifted their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Bank of America upped their price target on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Stifel Nicolaus raised their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. National Bank Financial lifted their price target on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $133.57.

Newmont Price Performance

Newmont stock opened at $102.96 on Tuesday. The stock’s 50 day moving average is $116.81 and its 200 day moving average is $100.73. Newmont Corporation has a one year low of $42.93 and a one year high of $134.88. The firm has a market cap of $111.19 billion, a P/E ratio of 16.11, a P/E/G ratio of 0.79 and a beta of 0.39. 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 (NYSE:NEM) last released its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share 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 business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 3rd. Newmont’s dividend payout ratio is currently 16.28%.

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.