Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in Newmont Corporation $NEM

Northwestern Mutual Wealth Management Co. lowered its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 42.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,393 shares of the basic materials company's stock after selling 37,644 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Newmont were worth $2,994,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northern Trust Corp raised its position in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi raised its holdings in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. raised its holdings in Newmont by 2.2% in the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares during the period. Dimensional Fund Advisors LP lifted its position in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock valued at $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company's stock valued at $433,236,000 after purchasing an additional 438,748 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company's stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,240 shares of company stock valued at $943,985 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Trading Up 1.2%

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Newmont stock opened at $90.72 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The firm's 50 day moving average price is $86.82 and its 200-day moving average price is $72.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market cap of $99.00 billion, a P/E ratio of 14.09, a PEG ratio of 0.62 and a beta of 0.41.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont's quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend payout ratio is presently 15.53%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEM. Royal Bank Of Canada lifted their price objective on Newmont from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, October 27th. Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 2nd. BNP Paribas Exane upped their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Bank of America raised their price objective on shares of Newmont from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Newmont in a report on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $92.59.

View Our Latest Report on NEM

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.

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