DekaBank Deutsche Girozentrale Reduces Stake in Newmont Corporation $NEM

DekaBank Deutsche Girozentrale reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 24.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 985,815 shares of the basic materials company's stock after selling 317,931 shares during the period. DekaBank Deutsche Girozentrale owned about 0.09% of Newmont worth $55,854,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Interstate Bank purchased a new position in Newmont in the second quarter valued at approximately $210,000. Drive Wealth Management LLC raised its stake in shares of Newmont by 85.0% in the second quarter. Drive Wealth Management LLC now owns 9,760 shares of the basic materials company's stock valued at $569,000 after buying an additional 4,483 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Newmont by 131.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 988 shares of the basic materials company's stock valued at $58,000 after buying an additional 562 shares during the last quarter. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company's stock worth $29,000 after acquiring an additional 400 shares during the period. Finally, FLC Capital Advisors purchased a new stake in Newmont in the 2nd quarter worth about $205,000. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Citigroup upped their price target on shares of Newmont from $74.00 to $104.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Bank of America raised their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 16th. Weiss Ratings cut shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, TD Securities raised their price target on Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $87.59.

Newmont Stock Down 9.1%

Shares of NYSE:NEM opened at $86.26 on Wednesday. The firm has a fifty day moving average price of $80.11 and a two-hundred day moving average price of $64.69. The company has a market cap of $94.75 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.65 and a beta of 0.34. 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 one year low of $36.86 and a one year high of $98.58.

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. Analysts anticipate 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 Monday, September 29th. Stockholders of record on Thursday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the 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 $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by insiders.

Newmont 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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