Marshall Wace LLP Has $10.60 Million Stock Position in Newmont Corporation $NEM

Marshall Wace LLP lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 94.6% during the second quarter, HoldingsChannel reports. The firm owned 181,857 shares of the basic materials company’s stock after selling 3,171,345 shares during the quarter. Marshall Wace LLP’s holdings in Newmont were worth $10,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concord Wealth Partners raised its position in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC increased its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Country Trust Bank acquired a new position in shares of Newmont during the 2nd quarter worth about $32,000. Colonial Trust Advisors raised its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Finally, Financial Management Professionals Inc. lifted its stake in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 444 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Friday, December 5th. Royal Bank Of Canada increased their price target on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $96.37.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,240 shares of company stock worth $943,985. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $94.23 on Thursday. The firm has a market cap of $102.83 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.65 and a beta of 0.41. The business’s 50 day moving average is $87.37 and its 200-day moving average is $73.46. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 15.53%.

Newmont Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.