MUFG Securities EMEA plc Sells 667,288 Shares of Newmont Corporation $NEM

Key Points

• MUFG Securities EMEA plc cut its Newmont stake by 93.7% in the fourth quarter, selling 667,288 shares and leaving it with 44,737 shares valued at about $4.47 million.
• Newmont’s latest quarterly results beat expectations, with EPS of $2.90 versus $2.07 expected and revenue of $7.31 billion, up 45.8% year over year.
• Analysts remain broadly positive on the stock: the consensus rating is Moderate Buy with an average price target of $141.53, while Newmont also announced a quarterly dividend of $0.26 per share.

MUFG Securities EMEA plc lowered its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 93.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,737 shares of the basic materials company's stock after selling 667,288 shares during the period. MUFG Securities EMEA plc's holdings in Newmont were worth $4,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bearing Point Capital LLC raised its stake in shares of Newmont by 10.4% during the 4th quarter. Bearing Point Capital LLC now owns 63,128 shares of the basic materials company's stock worth $6,303,000 after purchasing an additional 5,956 shares in the last quarter. Texas Yale Capital Corp. raised its stake in shares of Newmont by 4.8% during the 4th quarter. Texas Yale Capital Corp. now owns 2,710 shares of the basic materials company's stock worth $271,000 after purchasing an additional 125 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Newmont by 33.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 5,010 shares of the basic materials company's stock worth $500,000 after purchasing an additional 1,266 shares in the last quarter. Impact Partnership Wealth LLC raised its stake in shares of Newmont by 20.2% during the 4th quarter. Impact Partnership Wealth LLC now owns 15,575 shares of the basic materials company's stock worth $1,555,000 after purchasing an additional 2,620 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Newmont during the 4th quarter worth approximately $1,443,128,000. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEM. Barclays began coverage on Newmont in a research note on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price target on the stock. Scotiabank dropped their price target on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. The Goldman Sachs Group increased their price target on Newmont from $123.20 to $125.10 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Citigroup increased their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, TD increased their price target on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average target price of $141.53.

Newmont Stock Down 0.2%

Shares of NYSE NEM opened at $109.60 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The stock has a market capitalization of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.42. The stock's fifty day moving average is $110.89 and its 200 day moving average is $109.10.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter last year, the business earned $1.25 earnings per share. Newmont's revenue was up 45.8% on a year-over-year basis. Sell-side analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Insider Buying and Selling

In related news, EVP Peter Wexler sold 13,378 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 43,068 shares of company stock worth $4,769,475 over the last three months. Company insiders own 0.06% of the company's stock.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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