Banque Pictet & Cie SA Lowers Holdings in Newmont Corporation $NEM

Key Points

• Banque Pictet & Cie SA reduced its holdings in Newmont Corporation by 7.3%, selling 10,000 shares, leaving it with 126,920 shares worth approximately $7.39 million at the end of the second quarter.
• Newmont reported an EPS of $1.43 for the last quarter, surpassing expectations of $0.95, with revenue increasing by 20.8% year-over-year to $5.32 billion.
• The company announced a quarterly dividend of $0.25, set to be paid on September 29th, which represents an annualized dividend of $1.00 and a yield of 1.2%.

Banque Pictet & Cie SA lowered its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 7.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,920 shares of the basic materials company's stock after selling 10,000 shares during the period. Banque Pictet & Cie SA's holdings in Newmont were worth $7,394,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its position in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC purchased a new stake in Newmont during the 1st quarter worth about $26,000. Colonial Trust Advisors raised its position in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock valued at $35,000 after buying an additional 444 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $83.60 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $86.62. The stock has a market cap of $91.83 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The firm has a fifty day moving average price of $71.48 and a 200 day moving average price of $59.44.

Newmont (NYSE:NEM - Get Free Report) last posted its 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 analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is presently 17.95%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. National Bankshares reissued an "outperform" rating on shares of Newmont in a research report on Monday. BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.38.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director directly owned 38,949 shares of the company's stock, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock worth $1,253,559 in the last 90 days. 0.05% of the stock is owned by insiders.

Newmont Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.