Newmont Corporation $NEM Shares Sold by Adams Natural Resources Fund Inc.

Key Points

• Adams Natural Resources Fund Inc. reduced its holdings in Newmont Corporation by 14.5%, owning 126,800 shares valued at $7,387,000 after selling 21,551 shares in the second quarter.
• Newmont's stock has a current market cap of $94.75 billion and recently reported an earnings per share (EPS) of $1.43, surpassing analysts' expectations.
• The company announced a $0.25 quarterly dividend on September 29th, representing a 1.2% dividend yield and a payout ratio of 17.95%.

Adams Natural Resources Fund Inc. reduced its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,800 shares of the basic materials company's stock after selling 21,551 shares during the quarter. Newmont accounts for 1.2% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 21st largest position. Adams Natural Resources Fund Inc.'s holdings in Newmont were worth $7,387,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company's stock valued at $912,000 after purchasing an additional 5,848 shares in the last quarter. Generate Investment Management Ltd boosted its stake in Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock valued at $22,079,000 after purchasing an additional 77,865 shares in the last quarter. Bessemer Group Inc. boosted its stake in Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Newmont during the 1st quarter valued at $423,000. Finally, Cypress Capital Group boosted its stake in Newmont by 6.5% during the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company's stock valued at $2,828,000 after purchasing an additional 2,959 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock opened at $86.26 on Wednesday. The stock has a market cap of $94.75 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.65 and a beta of 0.34. The business has a fifty day simple moving average of $80.11 and a 200-day simple moving average of $64.69. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last quarter. Company insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Newmont from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 16th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Finally, BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price 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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