Cerity Partners LLC Cuts Stock Position in Newmont Corporation (NYSE:NEM)

Cerity Partners LLC reduced its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,013 shares of the basic materials company's stock after selling 10,437 shares during the period. Cerity Partners LLC's holdings in Newmont were worth $2,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in Newmont in the first quarter valued at about $26,000. Private Trust Co. NA raised its position in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the period. Nexus Investment Management ULC acquired a new stake in Newmont in the 1st quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management acquired a new position in Newmont during the first quarter worth $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock traded up $1.94 during midday trading on Tuesday, hitting $61.80. The company had a trading volume of 9,358,499 shares, compared to its average volume of 10,859,930. The business's 50 day simple moving average is $55.83 and its two-hundred day simple moving average is $49.80. The stock has a market cap of $68.78 billion, a PE ratio of 13.86, a P/E/G ratio of 0.67 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $61.89.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director directly owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,231 shares of company stock worth $679,813. Company insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. Raymond James Financial restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Stifel Nicolaus initiated coverage on Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. UBS Group lifted their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.49.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.