Pacer Advisors Inc. Reduces Stock Position in Newmont Corporation $NEM

Pacer Advisors Inc. cut its holdings in Newmont Corporation (NYSE:NEM) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,776,254 shares of the basic materials company’s stock after selling 951,516 shares during the quarter. Newmont makes up approximately 0.6% of Pacer Advisors Inc.’s holdings, making the stock its 18th largest holding. Pacer Advisors Inc.’s holdings in Newmont were worth $408,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC raised its holdings in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Newmont during the 4th quarter valued at about $9,018,000. ARS Investment Partners LLC boosted its stake in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after purchasing an additional 23,900 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Newmont by 67.0% during the fourth quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock valued at $4,069,000 after buying an additional 16,352 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Newmont during the fourth quarter valued at about $7,684,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $93.70 on Monday. The business has a fifty day moving average price of $98.48 and a 200-day moving average price of $109.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The company has a market capitalization of $98.73 billion, a PE ratio of 11.83, a PEG ratio of 1.05 and a beta of 0.47. Newmont Corporation has a 1-year low of $61.76 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities analysts expect that Newmont Corporation will post 8.99 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio is presently 13.13%.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,882 shares of company stock valued at $1,001,952 in the last three months. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Argus raised their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Scotiabank lowered their target price on Newmont from $151.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. TD upgraded Newmont from a “hold” rating to a “buy” rating and dropped their price target for the company from $129.00 to $127.00 in a research report on Tuesday, July 14th. BMO Capital Markets decreased their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.83.

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.