Newmont Corporation (NYSE:NEM) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Newmont Corporation by 61.4%, decreasing its holdings to 35,067 shares, valued at approximately $1.69 million as of its recent SEC filing.
• Other institutional investors, like SOA Wealth Advisors LLC and Private Trust Co. NA, have increased their holdings in Newmont, reflecting broader interest in the stock.
• Newmont declared a quarterly dividend of $0.25, scheduled for payment on September 29th, with a yield of 1.6%, while also reporting a significant earnings miss and revenue growth of 20.8% year-over-year.

J. Safra Sarasin Holding AG lessened its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,067 shares of the basic materials company's stock after selling 55,824 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Newmont were worth $1,693,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NEM. PNC Financial Services Group Inc. raised its position in Newmont by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 133,640 shares of the basic materials company's stock valued at $6,452,000 after acquiring an additional 7,238 shares in the last quarter. TIAA Trust National Association raised its position in Newmont by 16.4% during the first quarter. TIAA Trust National Association now owns 6,474 shares of the basic materials company's stock valued at $313,000 after acquiring an additional 911 shares in the last quarter. Signature Wealth Management Partners LLC raised its position in Newmont by 6.1% during the first quarter. Signature Wealth Management Partners LLC now owns 16,849 shares of the basic materials company's stock valued at $813,000 after acquiring an additional 962 shares in the last quarter. Baker Avenue Asset Management LP purchased a new position in Newmont during the first quarter valued at approximately $209,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Newmont during the first quarter valued at approximately $1,809,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the transaction, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,154 shares of company stock valued at $572,889. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. CIBC set a $74.00 price target on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Raymond James Financial increased their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Newmont Price Performance

Shares of NYSE:NEM traded up $2.83 during midday trading on Monday, hitting $65.42. The company had a trading volume of 9,763,123 shares, compared to its average volume of 13,063,871. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $66.57. 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 market cap of $71.86 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The business's 50-day simple moving average is $58.33 and its 200-day simple moving average is $51.58.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont's dividend payout ratio (DPR) is 17.95%.

About Newmont

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.