Swiss Life Asset Management Ltd Sells 5,666 Shares of Newmont Corporation $NEM

Swiss Life Asset Management Ltd reduced its position in shares of Newmont Corporation (NYSE:NEMFree Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 310,542 shares of the basic materials company’s stock after selling 5,666 shares during the period. Swiss Life Asset Management Ltd’s holdings in Newmont were worth $31,008,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NEM. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP boosted its holdings in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the 2nd quarter worth $240,000. Cerity Partners LLC boosted its holdings in shares of Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 43,068 shares of company stock worth $4,769,475. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NEM shares. UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Canaccord Genuity Group upped their target price on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Finally, Bank of America increased their price target on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $142.51.

Read Our Latest Stock Analysis on Newmont

Newmont Price Performance

Shares of Newmont stock opened at $116.45 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The firm has a fifty day moving average price of $112.91 and a two-hundred day moving average price of $105.96. The company has a market cap of $124.32 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.62 and a beta of 0.43.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue was up 45.8% on a year-over-year basis. Analysts expect that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 13.49%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

Newmont Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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