Heathbridge Capital Management Ltd. Sells 15,200 Shares of Newmont Co. (NYSE:NEM)

Heathbridge Capital Management Ltd. decreased its position in shares of Newmont Co. (NYSE:NEMGet Rating) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 505,330 shares of the basic materials company’s stock after selling 15,200 shares during the quarter. Newmont makes up about 9.0% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 2nd biggest holding. Heathbridge Capital Management Ltd.’s holdings in Newmont were worth $31,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cetera Advisor Networks LLC boosted its position in shares of Newmont by 5.7% during the 3rd quarter. Cetera Advisor Networks LLC now owns 34,798 shares of the basic materials company’s stock valued at $1,890,000 after acquiring an additional 1,873 shares during the last quarter. Boyer & Corporon Wealth Management LLC boosted its position in shares of Newmont by 3.7% during the 3rd quarter. Boyer & Corporon Wealth Management LLC now owns 93,872 shares of the basic materials company’s stock valued at $5,097,000 after acquiring an additional 3,392 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Newmont by 67.3% during the 3rd quarter. Bank of Nova Scotia now owns 830,909 shares of the basic materials company’s stock valued at $45,118,000 after acquiring an additional 334,150 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Newmont during the 4th quarter valued at about $185,000. Finally, A. D. Beadell Investment Counsel Inc. boosted its position in shares of Newmont by 8.2% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 21,490 shares of the basic materials company’s stock valued at $1,332,000 after acquiring an additional 1,625 shares during the last quarter. 76.72% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on NEM. Canaccord Genuity Group reduced their price objective on shares of Newmont from $87.00 to $80.00 in a report on Tuesday. National Bankshares reduced their price objective on shares of Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Newmont from $67.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, March 9th. Raymond James reduced their price objective on shares of Newmont from $92.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, April 25th. Finally, Bank of America boosted their price objective on shares of Newmont from $70.00 to $75.00 in a report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Hold” and an average target price of $74.26.

In related news, EVP Nancy Lipson sold 19,866 shares of the company’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $79.00, for a total value of $1,569,414.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $79.00, for a total value of $790,000.00. The disclosure for this sale can be found here. Insiders have sold 66,343 shares of company stock worth $4,838,533 over the last 90 days. Insiders own 0.11% of the company’s stock.

Shares of NEM stock traded down $0.43 during trading hours on Friday, reaching $72.85. 5,683,951 shares of the stock were exchanged, compared to its average volume of 6,766,972. The business’s fifty day moving average is $76.42 and its two-hundred day moving average is $65.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.92 and a quick ratio of 2.53. Newmont Co. has a 12-month low of $52.60 and a 12-month high of $86.37. The firm has a market capitalization of $57.82 billion, a P/E ratio of 55.61 and a beta of 0.30.

Newmont (NYSE:NEMGet Rating) last released its earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.02). Newmont had a return on equity of 10.24% and a net margin of 8.53%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Newmont Co. will post 3.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.02%. Newmont’s payout ratio is 167.94%.

About Newmont (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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