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Newmont Corporation $NEM Shares Sold by Robinson Value Management Ltd.

Newmont logo with Basic Materials background

Key Points

  • Robinson Value Management Ltd. reduced its stake in Newmont Corporation by 2.8%, owning 106,882 shares valued at approximately $6.2 million, making it the firm's second-largest holding.
  • Newmont recently reported a quarterly earnings per share (EPS) of $1.43, exceeding analysts' expectations of $0.95, with a revenue increase of 20.8% year-over-year.
  • The company's quarterly dividend was recently paid at $0.25 per share, resulting in an annual payout of $1.00 and a yield of 1.1% based on a payout ratio of 17.95%.
  • Interested in Newmont? Here are five stocks we like better.

Robinson Value Management Ltd. lowered its stake in Newmont Corporation (NYSE:NEM - Free Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,882 shares of the basic materials company's stock after selling 3,119 shares during the period. Newmont makes up approximately 3.9% of Robinson Value Management Ltd.'s portfolio, making the stock its 2nd biggest holding. Robinson Value Management Ltd.'s holdings in Newmont were worth $6,227,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC raised its stake in shares of Newmont by 59.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company's stock worth $912,000 after purchasing an additional 5,848 shares during the last quarter. Generate Investment Management Ltd raised its stake in shares of Newmont by 25.9% during the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock worth $22,079,000 after purchasing an additional 77,865 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Newmont by 13.2% during the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after purchasing an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Newmont during the first quarter worth approximately $423,000. Finally, Spire Wealth Management raised its stake in shares of Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after purchasing an additional 1,309 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM stock opened at $90.76 on Friday. The stock has a fifty day moving average price of $79.24 and a 200 day moving average price of $63.97. The stock has a market cap of $99.69 billion, a PE ratio of 16.29, a P/E/G ratio of 1.07 and a beta of 0.34. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont's revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont's payout ratio is currently 17.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEM shares. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Weiss Ratings cut Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $87.59.

Check Out Our Latest Research Report on Newmont

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont 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 completion of the transaction, the director directly owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by insiders.

Newmont Profile

(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.

See Also

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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