Metis Global Partners LLC Sells 13,341 Shares of Newmont Corporation $NEM

Metis Global Partners LLC trimmed its holdings in Newmont Corporation (NYSE:NEM) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,637 shares of the basic materials company’s stock after selling 13,341 shares during the period. Metis Global Partners LLC’s holdings in Newmont were worth $12,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NEM. Brighton Jones LLC lifted its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont in the second quarter valued at about $240,000. Cerity Partners LLC raised its holdings in shares of Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

NYSE NEM opened at $92.76 on Thursday. Newmont Corporation has a 52-week low of $52.42 and a 52-week high of $134.88. The company has a 50-day simple moving average of $111.42 and a 200 day simple moving average of $109.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $99.02 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Analyst Ratings Changes

Several analysts have recently commented on NEM shares. The Goldman Sachs Group lowered their target price on shares of Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. BMO Capital Markets increased their target price on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Bank of America increased their target price on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barclays started coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price for the company. Finally, Scotiabank lowered their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.26.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 49,950 shares of company stock valued at $5,494,288 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont 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.