Commerzbank Aktiengesellschaft FI Sells 38,635 Shares of Newmont Corporation $NEM

Key Points

• Commerzbank Aktiengesellschaft FI reduced its stake in Newmont Corporation by 28.8%, now holding 95,406 shares worth approximately $5.56 million after selling 38,635 shares.
• Several institutional investors, including Brighton Jones LLC and UMB Bank, increased their holdings in Newmont, indicating a broader interest with 68.85% of the stock owned by institutional investors.
• Newmont declared a quarterly dividend of $0.25, representing an annualized yield of 1.2%, with a current dividend payout ratio of 17.95%.

Commerzbank Aktiengesellschaft FI cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 28.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,406 shares of the basic materials company's stock after selling 38,635 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Newmont were worth $5,558,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NEM. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Newmont by 36.9% in the first quarter. UMB Bank n.a. now owns 4,540 shares of the basic materials company's stock valued at $219,000 after acquiring an additional 1,223 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Newmont in the first quarter valued at approximately $1,132,000. Farther Finance Advisors LLC lifted its stake in Newmont by 162.0% in the first quarter. Farther Finance Advisors LLC now owns 16,382 shares of the basic materials company's stock valued at $791,000 after purchasing an additional 10,130 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock valued at $1,021,000 after purchasing an additional 3,840 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEM. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Macquarie downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. UBS Group upped their price objective on Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $77.56.

Newmont Trading Down 3.6%

Shares of NEM stock opened at $85.23 on Friday. The company's fifty day simple moving average is $76.32 and its two-hundred day simple moving average is $62.18. 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 $89.37. The stock has a market capitalization of $93.62 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.99 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly 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 quarter, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by company 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.

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