SG Americas Securities LLC Sells 121,330 Shares of Newmont Corporation $NEM

SG Americas Securities LLC decreased its holdings in Newmont Corporation (NYSE:NEM) by 56.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,869 shares of the basic materials company’s stock after selling 121,330 shares during the period. SG Americas Securities LLC’s holdings in Newmont were worth $7,830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NEM. Harbor Capital Advisors Inc. increased its holdings in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the period. Concord Wealth Partners boosted 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 valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Newmont in the third quarter worth about $44,000. Finally, Capital A Wealth Management LLC lifted its position in shares of Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NEM shares. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Argus lifted their price target on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. National Bankshares increased their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Finally, Bank of America upped their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus price target of $97.08.

Newmont Price Performance

Shares of NEM opened at $108.99 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company’s fifty day moving average price is $94.34 and its 200-day moving average price is $80.57. Newmont Corporation has a 1-year low of $38.53 and a 1-year high of $109.30. The firm has a market capitalization of $118.94 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.81 EPS. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is 15.53%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by insiders.

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.