Mizuho Securities USA LLC Decreases Stock Holdings in Newmont Corporation (NYSE:NEM)

Key Points

• Mizuho Securities USA LLC reduced its position in Newmont Corporation by 15.5% in the first quarter, selling 16,744 shares, bringing its total holdings to 91,155 shares valued at $4,401,000.
• Newmont Corporation recently reported earnings of $1.43 per share, exceeding analysts' expectations, alongside a revenue of $5.32 billion, up 20.8% year-over-year.
• Newmont has announced a quarterly dividend of $0.25 per share, which will be paid on September 29th, representing an annualized yield of 1.5%.

Mizuho Securities USA LLC reduced its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,155 shares of the basic materials company's stock after selling 16,744 shares during the period. Mizuho Securities USA LLC's holdings in Newmont were worth $4,401,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEM. Hemington Wealth Management lifted its position in Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. lifted its position in Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in 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 last quarter. Rothschild Investment LLC lifted its position in Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its position in Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after acquiring an additional 254 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 0.2%

Shares of Newmont stock opened at $68.96 on Friday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $70.29. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company's 50-day simple moving average is $59.58 and its 200-day simple moving average is $52.25. The firm has a market cap of $75.75 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $4.70 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business's revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the transaction, the director directly owned 41,026 shares in the company, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NEM shares. Scotiabank upped their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. CIBC set a $74.00 target price on shares of Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.

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