Dynamic Technology Lab Private Ltd Has $607,000 Stake in Newmont Corporation $NEM

Key Points

• Dynamic Technology Lab Private Ltd has reduced its holdings in Newmont Corporation by 66.1%, selling 24,508 shares and now owning only 12,570 shares worth $607,000.
• Several hedge funds have also adjusted their positions in Newmont, with notable increases in stakes from firms like Brighton Jones LLC and Occudo Quantitative Strategies LP.
• Newmont recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 and a yield of 1.3%.

Dynamic Technology Lab Private Ltd lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 66.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,570 shares of the basic materials company's stock after selling 24,508 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Newmont were worth $607,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Ethic Inc. bought a new stake in Newmont during the fourth quarter worth about $495,000. LRI Investments LLC grew its stake in Newmont by 24.2% during the fourth quarter. LRI Investments LLC now owns 5,381 shares of the basic materials company's stock worth $200,000 after buying an additional 1,050 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in Newmont by 20.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 48,200 shares of the basic materials company's stock worth $1,794,000 after buying an additional 8,195 shares during the last quarter. Finally, Occudo Quantitative Strategies LP grew its stake in Newmont by 205.3% during the fourth quarter. Occudo Quantitative Strategies LP now owns 58,491 shares of the basic materials company's stock worth $2,177,000 after buying an additional 39,335 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,246 shares of company stock worth $1,253,559. Company insiders own 0.05% of the company's stock.

Newmont Trading Down 0.5%

NEM stock traded down $0.40 during midday trading on Friday, reaching $79.25. The company's stock had a trading volume of 8,282,397 shares, compared to its average volume of 8,566,614. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $80.07. The stock has a market cap of $87.05 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $67.46 and its 200-day simple moving average is $57.05.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont's dividend payout ratio (DPR) is 17.95%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEM. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.38.

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.