Newmont Corporation (NYSE:NEM) Shares Sold by Chancellor Financial Group WB LP

Chancellor Financial Group WB LP cut its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 62.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,150 shares of the basic materials company's stock after selling 8,500 shares during the quarter. Chancellor Financial Group WB LP's holdings in Newmont were worth $249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after buying an additional 1,379 shares during the period. First Trust Advisors LP grew its stake in shares of Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after purchasing an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont during the 1st quarter valued at approximately $423,000. Spire Wealth Management lifted its position in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 1,309 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Newmont by 773.7% during the fourth quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after purchasing an additional 59,740 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value 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. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,231 shares of company stock worth $679,813. Insiders own 0.05% of the company's stock.

Newmont Price Performance

NYSE:NEM traded up $1.67 during trading hours on Monday, hitting $59.86. 11,228,446 shares of the stock traded hands, compared to its average volume of 10,842,820. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $55.83 and a 200 day moving average price of $49.80. The company has a market cap of $66.62 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.65 and a beta of 0.33. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $61.17.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $62.49.

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.