Baader Bank Aktiengesellschaft Sells 13,635 Shares of Newmont Corporation $NEM

Key Points

• Baader Bank Aktiengesellschaft reduced its Newmont stake by 39.4% in the fourth quarter, selling 13,635 shares and ending with 20,952 shares worth about $2.06 million.
• Newmont reported strong quarterly earnings, posting $2.90 EPS versus expectations of $2.07 and revenue of $7.31 billion, both topping analyst estimates.
• The company also announced a quarterly dividend of $0.26 per share, payable June 22, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $142.51.

Baader Bank Aktiengesellschaft cut its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,952 shares of the basic materials company's stock after selling 13,635 shares during the period. Baader Bank Aktiengesellschaft's holdings in Newmont were worth $2,058,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Western Wealth Management LLC boosted its position in Newmont by 2.6% in the 4th quarter. Western Wealth Management LLC now owns 23,007 shares of the basic materials company's stock valued at $2,297,000 after buying an additional 578 shares during the last quarter. Allworth Financial LP raised its stake in Newmont by 21.8% during the 4th quarter. Allworth Financial LP now owns 16,023 shares of the basic materials company's stock worth $1,600,000 after buying an additional 2,868 shares during the period. Mainsail Asset Management LLC acquired a new stake in Newmont during the 4th quarter worth $222,000. Catalyst Financial Partners LLC raised its stake in Newmont by 24.2% during the 4th quarter. Catalyst Financial Partners LLC now owns 4,941 shares of the basic materials company's stock worth $493,000 after buying an additional 963 shares during the period. Finally, Ameritas Advisory Services LLC raised its stake in Newmont by 150.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 31,139 shares of the basic materials company's stock worth $3,109,000 after buying an additional 18,696 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 0.6%

Shares of NEM opened at $118.99 on Thursday. Newmont Corporation has a 52 week low of $48.27 and a 52 week high of $134.88. The stock has a market capitalization of $127.02 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a fifty day moving average of $112.20 and a 200-day moving average of $106.79.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont's revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Analysts Set New Price Targets

Several analysts have issued reports on NEM shares. UBS Group dropped their price target on Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Sanford C. Bernstein upgraded Newmont from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $121.00 to $157.00 in a report on Friday, February 27th. BMO Capital Markets lifted their price target on Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Canaccord Genuity Group upped their price objective on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Citigroup lifted their target price on Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.51.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the sale, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is currently owned by insiders.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.