Lbp Am Sa Decreases Holdings in Newmont Corporation (NYSE:NEM)

Lbp Am Sa lowered its position in Newmont Corporation (NYSE:NEM - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,816 shares of the basic materials company's stock after selling 6,299 shares during the quarter. Lbp Am Sa's holdings in Newmont were worth $3,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bessemer Group Inc. grew its holdings in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of 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 acquiring an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Newmont during the 1st quarter valued at about $423,000. Spire Wealth Management grew its position in Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after purchasing an additional 59,740 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEM. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Raymond James Financial reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $61.45.

Newmont Price Performance

NEM opened at $59.78 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The company has a market cap of $66.53 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.67 and a beta of 0.33. The stock has a fifty day simple moving average of $55.17 and a two-hundred day simple moving average of $48.76. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.82 billion. During the same period last year, the business earned $0.55 EPS. Research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,231 shares of company stock worth $679,813 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

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.

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