Kopernik Global Investors LLC Has $82,000 Position in Newmont Corporation $NEM

Kopernik Global Investors LLC lessened its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 96.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 761 shares of the basic materials company's stock after selling 22,440 shares during the period. Newmont accounts for about 0.0% of Kopernik Global Investors LLC's portfolio, making the stock its 27th largest position. Kopernik Global Investors LLC's holdings in Newmont were worth $82,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised 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 worth $506,000 after acquiring an additional 1,847 shares during the last quarter. Woodline Partners LP grew its stake in shares of Newmont by 40.7% during 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 bought a new stake in shares of Newmont during the second quarter valued at approximately $240,000. Cerity Partners LLC increased 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 in the last quarter. Finally, NewEdge Advisors LLC raised its position in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after purchasing an additional 3,856 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David John Thornton sold 2,296 shares of the business'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 $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. This trade represents a 2.64% 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 sold 28,556 shares of company stock valued at $3,058,146 in the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of NEM stock opened at $95.88 on Thursday. Newmont Corporation has a 52-week low of $59.96 and a 52-week high of $134.88. The stock has a market cap of $102.35 billion, a PE ratio of 12.44, a PEG ratio of 1.10 and a beta of 0.46. 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 firm's 50 day moving average price is $100.68 and its two-hundred day moving average price is $110.11.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 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 firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business's quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts forecast that Newmont Corporation will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NEM. Wall Street Zen downgraded Newmont from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. Raymond James Financial lowered their target price on Newmont from $139.00 to $137.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group dropped their target price on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Barclays cut their price target on Newmont from $133.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $136.26.

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.

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