B. Metzler seel. Sohn & Co. AG Reduces Position in Newmont Corporation $NEM

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Newmont Corporation by 48.9% during the first quarter, leaving them with 51,479 shares valued at approximately $2.49 million.
• In addition to the stake reduction by B. Metzler, several large investors, including Bank of New York Mellon Corp and Northern Trust Corp, have recently increased their holdings in Newmont, highlighting significant interest from institutional investors.
• Newmont declared a quarterly dividend of $0.25 per share, with an ex-dividend date of September 4th, representing a 1.4% yield based on an annualized dividend of $1.00.

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 48.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,479 shares of the basic materials company's stock after selling 49,258 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Newmont were worth $2,485,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its holdings 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 valued at $624,458,000 after purchasing an additional 191,940 shares during the last quarter. Invesco Ltd. boosted its holdings in Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after purchasing an additional 228,116 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Newmont by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock valued at $350,166,000 after purchasing an additional 1,331,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmont by 15.9% in 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 during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock worth $1,373,251 in the last 90 days. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. CIBC set a $74.00 price target on shares of Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. UBS Group upped their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Stifel Nicolaus initiated coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Scotiabank upped their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Trading Up 0.8%

Shares of Newmont stock opened at $73.00 on Friday. The firm has a 50-day simple moving average of $63.58 and a two-hundred day simple moving average of $54.77. The company has a market cap of $80.18 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $73.29. 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 for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion during 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 company's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

About Newmont

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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