Newmont Corporation $NEM Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC lowered its stake in Newmont Corporation (NYSE:NEM) by 30.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 95,714 shares of the basic materials company’s stock after selling 41,000 shares during the quarter. Newmont comprises about 1.9% of Longfellow Investment Management Co. LLC’s investment portfolio, making the stock its 8th biggest position. Longfellow Investment Management Co. LLC’s holdings in Newmont were worth $8,070,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Harbor Capital Advisors Inc. increased its holdings in 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 purchasing an additional 139 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $44,000. Capital A Wealth Management LLC raised its position in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new position in Newmont during the third quarter worth $44,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $116.14 on Friday. Newmont Corporation has a 1 year low of $42.03 and a 1 year high of $134.88. The stock has a market capitalization of $126.35 billion, a PE ratio of 18.18, a PEG ratio of 0.96 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a 50-day simple moving average of $117.04 and a 200-day simple moving average of $96.41.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is presently 16.28%.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. Canadian Imperial Bank of Commerce dropped their price objective on Newmont from $71.00 to $67.00 in a research note on Friday, February 27th. Wall Street Zen downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Royal Bank Of Canada boosted their price target on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. UBS Group reduced their price target on shares of Newmont from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Argus lifted their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.68.

Newmont Company 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.