BFI Infinity Ltd. Sells 4,408 Shares of Newmont Corporation $NEM

Key Points

• BFI Infinity Ltd. reduced its holdings in Newmont Corporation by 32%, selling 4,408 shares to hold a total of 9,382 shares, which represents about 0.5% of its investment portfolio valued at $547,000.
• Institutional investors hold approximately 68.85% of Newmont's stock, with various funds increasing their positions in the company during the first quarter.
• Newmont recently reported $1.43 earnings per share, significantly beating analysts' estimates, and has announced a quarterly dividend of $0.25 with a dividend yield of 1.2%.

BFI Infinity Ltd. cut its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 32.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,382 shares of the basic materials company's stock after selling 4,408 shares during the quarter. Newmont makes up about 0.5% of BFI Infinity Ltd.'s investment portfolio, making the stock its 22nd largest position. BFI Infinity Ltd.'s holdings in Newmont were worth $547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NEM. Bank of New York Mellon Corp grew its position in Newmont by 8.9% during 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 acquiring an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Newmont by 1.5% in the 1st 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 in the last quarter. Amundi grew its holdings in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Newmont by 2.2% during the 1st 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. Finally, Dimensional Fund Advisors LP raised its position in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NEM shares. Macquarie lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. CIBC lifted their price target on Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, September 12th. Raymond James Financial increased their price objective on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Finally, BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average price target of $73.38.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,169 shares of company stock worth $955,286. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE NEM opened at $84.59 on Tuesday. The stock has a market cap of $92.92 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93. The firm has a fifty day moving average price of $72.52 and a 200-day moving average price of $60.20. 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 (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the previous year, the company earned $0.72 EPS. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. 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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