Aberdeen Group plc Sells 19,524 Shares of Newmont Corporation $NEM

Aberdeen Group plc reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,442,071 shares of the basic materials company’s stock after selling 19,524 shares during the period. Aberdeen Group plc owned approximately 0.13% of Newmont worth $143,991,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Estate Counselors LLC bought a new position in Newmont in the 3rd quarter worth $4,182,000. AustralianSuper Pty Ltd boosted its stake in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after buying an additional 54,530 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after buying an additional 44,846 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group cut their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Raymond James Financial lifted their price target on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Stifel Nicolaus upped their price target on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $133.78.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total value of $324,000.00. Following the completion of the transaction, the executive vice president directly owned 55,315 shares in the company, valued at $5,974,020. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $114.13 on Friday. The firm has a market capitalization of $123.26 billion, a PE ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 0.46. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $116.33 and a 200-day moving average price of $101.11. Newmont Corporation has a 52 week low of $42.93 and a 52 week high of $134.88.

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

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. This is a positive change from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 16.28%.

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.