Bank Julius Baer & Co. Ltd Zurich Sells 23,981 Shares of Newmont Corporation (NYSE:NEM)

Bank Julius Baer & Co. Ltd Zurich cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 31.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,983 shares of the basic materials company's stock after selling 23,981 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Newmont were worth $2,558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NEM. Guidance Capital Inc. bought a new stake in shares of Newmont during the 1st quarter worth $439,000. Financial Sense Advisors Inc. boosted its holdings in Newmont by 136.6% during the first quarter. Financial Sense Advisors Inc. now owns 272,700 shares of the basic materials company's stock valued at $13,166,000 after acquiring an additional 157,443 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Newmont by 20.6% in the first quarter. HighPoint Advisor Group LLC now owns 7,226 shares of the basic materials company's stock valued at $383,000 after purchasing an additional 1,234 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Newmont by 1,828.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 675 shares of the basic materials company's stock worth $33,000 after purchasing an additional 640 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Newmont by 16.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 250,117 shares of the basic materials company's stock worth $12,076,000 after purchasing an additional 35,673 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Newmont stock traded up $4.24 during trading hours on Friday, hitting $65.75. 30,891,639 shares of the stock were exchanged, compared to its average volume of 11,595,961. The stock has a market capitalization of $73.18 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.96 and a beta of 0.33. The business's 50-day moving average is $57.05 and its two-hundred day moving average is $50.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $66.57.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 18.13% and a net margin of 30.50%. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. Equities research analysts expect that Newmont Corporation will post 3.45 EPS 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. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.52%. Newmont's dividend payout ratio (DPR) is 22.42%.

Analysts Set New Price Targets

Several brokerages have commented on NEM. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $62.49.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,231 shares of company stock worth $679,813. Insiders own 0.05% of the company's stock.

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.