LaSalle St. Investment Advisors LLC Sells 8,634 Shares of Newmont Corporation (NYSE:NEM)

Key Points

• LaSalle St. Investment Advisors LLC reduced its stake in Newmont Corporation by 26.3%, selling 8,634 shares to hold a total of 24,251 shares valued at approximately $1.17 million.
• Newmont reported a 20.8% increase in quarterly revenue year-over-year, reaching $5.32 billion, with earnings per share of $1.43 surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.5%, to be paid on September 29 to investors recorded by September 4.

LaSalle St. Investment Advisors LLC cut its stake in Newmont Corporation (NYSE:NEM - Free Report) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,251 shares of the basic materials company's stock after selling 8,634 shares during the quarter. LaSalle St. Investment Advisors LLC's holdings in Newmont were worth $1,170,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NEM. Brighton Jones LLC increased its position 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 acquiring an additional 1,847 shares during the period. Wellington Management Group LLP increased its position in Newmont by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company's stock worth $6,741,000 after acquiring an additional 2,877 shares during the period. Cerity Partners LLC increased its position in Newmont by 20.4% during the fourth quarter. Cerity Partners LLC now owns 70,450 shares of the basic materials company's stock worth $2,622,000 after acquiring an additional 11,915 shares during the period. Invesco Ltd. increased its position in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Newmont during the fourth quarter worth about $76,281,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 0.2%

NYSE:NEM traded down $0.11 during mid-day trading on Friday, hitting $68.96. 9,068,992 shares of the company's stock were exchanged, compared to its average volume of 12,932,138. The company has a 50 day simple moving average of $59.58 and a 200-day simple moving average of $52.25. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29. The firm has a market capitalization of $75.75 billion, a P/E ratio of 12.38, a PEG ratio of 0.84 and a beta of 0.30.

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

Newmont Announces Dividend

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

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the sale, the director directly owned 41,026 shares in the company, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,246 shares of company stock worth $1,373,251 in the last ninety days. Company insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEM shares. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. UBS Group increased their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Company 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.