Alphastar Capital Management LLC Trims Stock Position in Newmont Co. (NYSE:NEM)

Alphastar Capital Management LLC lessened its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 64.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,165 shares of the basic materials company’s stock after selling 18,828 shares during the quarter. Alphastar Capital Management LLC’s holdings in Newmont were worth $622,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NEM. Invesco Ltd. raised its position in Newmont by 44.2% in the 3rd quarter. Invesco Ltd. now owns 10,151,231 shares of the basic materials company’s stock valued at $551,212,000 after purchasing an additional 3,109,683 shares during the last quarter. Van ECK Associates Corp raised its position in Newmont by 6.0% in the 4th quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock valued at $2,465,087,000 after purchasing an additional 2,256,671 shares during the last quarter. Marathon Asset Mgmt Ltd purchased a new stake in Newmont in the 4th quarter valued at $90,515,000. Flossbach Von Storch AG raised its position in Newmont by 9.2% in the 3rd quarter. Flossbach Von Storch AG now owns 17,038,795 shares of the basic materials company’s stock valued at $925,207,000 after purchasing an additional 1,435,336 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its position in Newmont by 72.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 2,688,038 shares of the basic materials company’s stock valued at $145,961,000 after purchasing an additional 1,132,161 shares during the last quarter. Institutional investors and hedge funds own 76.72% of the company’s stock.

Several analysts recently commented on the stock. StockNews.com assumed coverage on shares of Newmont in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group downgraded shares of Newmont from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, February 9th. Credit Suisse Group downgraded shares of Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Fundamental Research upped their price objective on shares of Newmont from $61.10 to $73.44 and gave the stock a “buy” rating in a research report on Tuesday, March 1st. Finally, National Bank Financial upped their price objective on shares of Newmont from C$92.00 to C$98.00 in a research report on Friday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Hold” and a consensus target price of $71.36.

In other news, EVP Nancy Lipson sold 19,866 shares of the stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $79.00, for a total transaction of $1,569,414.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nancy Buese sold 10,000 shares of the stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $79.00, for a total transaction of $790,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,343 shares of company stock worth $4,838,533. 0.11% of the stock is owned by insiders.

NYSE NEM traded down $1.62 during trading hours on Tuesday, reaching $83.80. The company’s stock had a trading volume of 148,197 shares, compared to its average volume of 8,152,925. The stock has a market cap of $66.42 billion, a PE ratio of 58.91 and a beta of 0.30. Newmont Co. has a fifty-two week low of $52.60 and a fifty-two week high of $86.37. The company’s 50-day moving average is $74.47 and its two-hundred day moving average is $63.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.55 and a current ratio of 2.90.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The basic materials company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Newmont had a net margin of 9.54% and a return on equity of 10.19%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. Equities analysts expect that Newmont Co. will post 3.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were issued a $0.55 dividend. The ex-dividend date was Wednesday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 2.63%. Newmont’s dividend payout ratio (DPR) is 151.72%.

Newmont Profile (Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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