Mutual of America Capital Management LLC Trims Stock Holdings in Newmont Corporation $NEM

Key Points

• Mutual of America Capital Management LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 7.9%, owning 149,964 shares after selling 12,793 shares, with holdings valued at approximately $8.74 million.
• Newmont recently reported earnings of $1.43 per share for the quarter, significantly exceeding analysts' expectations of $0.95 and marking a 20.8% revenue increase year-over-year.
• The company has declared a quarterly dividend of $0.25, translating to an annualized dividend of $1.00 and a yield of 1.1%, with a payout ratio of 17.95%.

Mutual of America Capital Management LLC reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,964 shares of the basic materials company's stock after selling 12,793 shares during the period. Mutual of America Capital Management LLC's holdings in Newmont were worth $8,737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. Brighton Jones LLC increased its stake 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 purchasing an additional 1,847 shares during the period. GAMMA Investing LLC increased its stake in Newmont by 22.2% during the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock worth $1,021,000 after purchasing an additional 3,840 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Newmont by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 190,069 shares of the basic materials company's stock worth $9,176,000 after purchasing an additional 4,236 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in Newmont during the first quarter worth about $213,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Newmont during the first quarter worth about $423,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM opened at $94.92 on Tuesday. The stock has a 50 day moving average price of $79.76 and a 200 day moving average price of $64.54. 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 has a market capitalization of $104.27 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company's stock, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 over the last three months. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Scotiabank boosted their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Citigroup boosted their price objective on Newmont from $74.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. BNP Paribas Exane boosted their price objective on Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Finally, BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average price target of $87.59.

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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