Newmont Corporation $NEM Stake Cut by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Newmont Corporation by 14.2% during the first quarter, owning 41,364 shares with a total valuation of approximately $1.997 million.
• Several large investors have altered their positions in Newmont, with Orion Investment Co increasing its stake by 126.9% and Transamerica Financial Advisors LLC by 8,673.3%.
• Newmont announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 1.3%, with a dividend payout ratio of 17.95%.

OMERS ADMINISTRATION Corp reduced its position in Newmont Corporation (NYSE:NEM - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,364 shares of the basic materials company's stock after selling 6,836 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Newmont were worth $1,997,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 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. Cloud Capital Management LLC purchased a new stake in shares of Newmont during the first quarter worth approximately $26,000. Colonial Trust Advisors raised its stake in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC purchased a new position in Newmont in the first quarter worth $31,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 17,169 shares of company stock worth $1,098,636. 0.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Scotiabank raised their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.15.

Newmont Trading Down 0.6%

NYSE:NEM traded down $0.43 during mid-day trading on Wednesday, reaching $75.43. The company's stock had a trading volume of 8,877,629 shares, compared to its average volume of 11,714,044. The company's fifty day simple moving average is $64.56 and its two-hundred day simple moving average is $55.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $76.52. The stock has a market cap of $82.86 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.88 and a beta of 0.34.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Newmont 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.