Waratah Capital Advisors Ltd. Sells 73,713 Shares of Newmont Co. (NYSE:NEM)

Waratah Capital Advisors Ltd. trimmed its position in shares of Newmont Co. (NYSE:NEM – Get Rating) by 64.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,874 shares of the basic materials company’s stock after selling 73,713 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Newmont were worth $3,247,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Newmont by 229.4% during the first quarter. Cerity Partners LLC now owns 16,087 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 11,204 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Newmont by 13.4% during the first quarter. Quadrant Capital Group LLC now owns 4,540 shares of the basic materials company’s stock worth $361,000 after buying an additional 536 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Newmont by 11.9% during the fourth quarter. Vident Investment Advisory LLC now owns 66,689 shares of the basic materials company’s stock worth $4,136,000 after buying an additional 7,073 shares in the last quarter. Comerica Bank increased its holdings in shares of Newmont by 1.7% during the first quarter. Comerica Bank now owns 132,896 shares of the basic materials company’s stock worth $10,976,000 after buying an additional 2,208 shares in the last quarter. Finally, AlphaCrest Capital Management LLC grew its stake in shares of Newmont by 353.3% during the fourth quarter. AlphaCrest Capital Management LLC now owns 18,204 shares of the basic materials company’s stock valued at $1,129,000 after purchasing an additional 14,188 shares during the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.

Insiders Place Their Bets

In related news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction on Monday, August 1st. The shares were sold at an average price of $45.35, for a total value of $136,050.00. Following the transaction, the chief operating officer now directly owns 48,947 shares of the company’s stock, valued at $2,219,746.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Stephen P. Gottesfeld sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $66.63, for a total value of $266,520.00. Following the transaction, the executive vice president now owns 87,753 shares in the company, valued at approximately $5,846,982.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $45.35, for a total value of $136,050.00. Following the completion of the transaction, the chief operating officer now directly owns 48,947 shares of the company’s stock, valued at approximately $2,219,746.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,000 shares of company stock valued at $3,295,400. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEM. Barclays reduced their price objective on shares of Newmont from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. Sanford C. Bernstein lowered shares of Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a report on Monday, April 25th. National Bankshares lowered their price target on shares of Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 26th. National Bank Financial upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group lowered shares of Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.37.

Newmont Stock Down 1.1 %

Shares of NEM stock traded down $0.51 on Friday, hitting $44.77. The stock had a trading volume of 8,146,017 shares, compared to its average volume of 11,812,102. The business has a 50 day moving average of $58.51 and a 200 day moving average of $66.91. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 45.22 and a beta of 0.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.82 and a quick ratio of 2.44. Newmont Co. has a 12-month low of $43.90 and a 12-month high of $86.37.

Newmont (NYSE:NEM – Get Rating) last issued its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). Newmont had a return on equity of 9.13% and a net margin of 6.40%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $0.83 EPS. Newmont’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts expect that Newmont Co. will post 2.61 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio (DPR) is presently 222.22%.

About Newmont

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Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.