Guggenheim Capital LLC Reduces Stock Position in Newmont Corporation $NEM

Key Points

• Guggenheim Capital LLC has reduced its stake in Newmont Corporation (NYSE:NEM) by 2.3%, now holding 298,226 shares valued at approximately $14.4 million.
• Insider sales were reported, with Director Bruce R. Brook and CAO Brian Tabolt selling a combined 9,092 shares, indicating a **decrease** in their ownership positions.
• Newmont recently announced a $0.25 quarterly dividend, representing a 1.4% yield, scheduled to be paid on September 29th to stockholders of record on September 4th.

Guggenheim Capital LLC decreased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 298,226 shares of the basic materials company's stock after selling 7,115 shares during the quarter. Guggenheim Capital LLC's holdings in Newmont were worth $14,398,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Newmont by 15.7% during the 4th 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 during the last quarter. First Trust Advisors LP boosted its holdings in Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after purchasing an additional 8,678 shares during the last quarter. Northern Trust Corp grew its stake in shares of Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after buying an additional 1,309,177 shares during the period. Lido Advisors LLC increased its holdings in shares of Newmont by 17.8% during the 4th quarter. Lido Advisors LLC now owns 9,821 shares of the basic materials company's stock worth $366,000 after buying an additional 1,481 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Newmont by 520.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 420,465 shares of the basic materials company's stock valued at $15,650,000 after buying an additional 352,710 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value 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. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,246 shares of company stock worth $1,373,251. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NYSE NEM opened at $72.44 on Thursday. The company has a market cap of $79.57 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.86 and a beta of 0.30. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $72.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The stock has a 50-day moving average of $63.29 and a two-hundred day moving average of $54.58.

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 for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NEM shares. CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Raymond James Financial increased their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Scotiabank boosted their price objective on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, UBS Group lifted their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

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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