Maj Invest Holding A S cut its position in Newmont Corporation (NYSE:NEM - Free Report) by 24.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,097,811 shares of the basic materials company's stock after selling 669,770 shares during the quarter. Newmont makes up about 4.3% of Maj Invest Holding A S's holdings, making the stock its 15th biggest position. Maj Invest Holding A S owned about 0.19% of Newmont worth $122,220,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position 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 purchasing an additional 1,847 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock worth $1,021,000 after acquiring an additional 3,840 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Newmont by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 190,069 shares of the basic materials company's stock valued at $9,176,000 after purchasing an additional 4,236 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in Newmont in the 1st quarter valued at $213,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Newmont during the 1st quarter worth about $423,000. 68.85% of the stock is currently owned by institutional investors.
Newmont Stock Performance
Newmont stock opened at $94.92 on Tuesday. The firm has a market capitalization of $104.27 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.63 and a beta of 0.34. The stock has a fifty day moving average price of $79.76 and a two-hundred day moving average price of $64.54. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.
Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Newmont Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend payout ratio is 17.95%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on NEM shares. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a research report on Wednesday, October 8th. Cibc World Mkts upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $87.59.
Get Our Latest Stock Analysis on Newmont
Insider Activity at Newmont
In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 in the last three months. Corporate insiders own 0.05% of the company's stock.
Newmont Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

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