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Newmont Corporation (NYSE:NEM) Shares Sold by Maj Invest Holding A S

Newmont logo with Basic Materials background

Maj Invest Holding A S trimmed its stake in Newmont Corporation (NYSE:NEM - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,767,581 shares of the basic materials company's stock after selling 161,197 shares during the period. Newmont makes up 4.8% of Maj Invest Holding A S's investment portfolio, making the stock its 10th largest holding. Maj Invest Holding A S owned about 0.25% of Newmont worth $133,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. boosted 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 valued at $25,000 after acquiring an additional 201 shares during the period. Private Trust Co. NA raised its position in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in Newmont during the 1st quarter worth $31,000. Alpine Bank Wealth Management acquired a new stake in Newmont during the 1st quarter worth $32,000. Finally, PSI Advisors LLC grew its position in Newmont by 195.5% during the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after purchasing an additional 526 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

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

Newmont Price Performance

Shares of NEM traded down $0.20 during trading hours on Friday, reaching $59.86. The company had a trading volume of 5,387,327 shares, compared to its average volume of 10,603,525. 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 12-month low of $36.86 and a 12-month high of $60.31. The firm has a 50 day simple moving average of $54.67 and a 200-day simple moving average of $48.25. The company has a market capitalization of $66.62 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.79 and a beta of 0.33.

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

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEM. UBS Group upped their target price on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. Scotiabank reissued a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $59.11.

Check Out Our Latest Analysis on NEM

Newmont Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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