Newmont Corporation (NYSE:NEM) Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,589 shares of the basic materials company's stock after selling 5,912 shares during the quarter. KBC Group NV's holdings in Newmont were worth $11,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the 1st quarter valued at about $31,000. Alpine Bank Wealth Management purchased a new stake in Newmont in the 1st quarter valued at about $32,000. PSI Advisors LLC grew its stake in Newmont by 195.5% in the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after acquiring an additional 526 shares in the last quarter. Finally, Grove Bank & Trust increased its position in shares of Newmont by 84.0% during the first quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock worth $44,000 after acquiring an additional 416 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Down 0.3%

Shares of NYSE:NEM traded down $0.20 during trading on Friday, reaching $59.86. The stock had a trading volume of 5,387,327 shares, compared to its average volume of 10,602,512. The firm's 50-day simple moving average is $54.55 and its 200 day simple moving average is $48.03. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The company has a market capitalization of $66.62 billion, a P/E ratio of 13.42, a PEG ratio of 0.79 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm earned $0.55 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.67%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director owned 43,103 shares in the company, valued at $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on NEM shares. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. UBS Group increased their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.11.

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.