Invesco LLC Sells 5,150 Shares of Newmont Corporation (NYSE:NEM)

Invesco LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 45.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,132 shares of the basic materials company's stock after selling 5,150 shares during the period. Invesco LLC's holdings in Newmont were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Newmont during the fourth quarter valued at approximately $626,074,000. Voloridge Investment Management LLC bought a new position in Newmont during the 4th quarter valued at $92,693,000. Capital Research Global Investors boosted its holdings in Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newmont in the 4th quarter worth $76,281,000. Finally, Invesco Ltd. raised its holdings in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM traded down $1.34 during midday trading on Tuesday, hitting $58.12. 14,887,850 shares of the company traded hands, compared to its average volume of 10,491,024. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The firm has a market cap of $64.69 billion, a P/E ratio of 13.03, a PEG ratio of 0.98 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The stock has a 50-day moving average of $53.95 and a 200-day moving average of $47.16.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio is 22.42%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's 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 now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last ninety days. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NEM shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.68.

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.