APG Asset Management N.V. Sells 65,421 Shares of Newmont Corporation $NEM

Key Points

• APG Asset Management N.V. has reduced its holdings in Newmont Corporation (NYSE:NEM) by 7.8%, selling 65,421 shares in the first quarter and ending up with 778,147 shares valued at approximately $34.78 million.
• Newmont reported earnings of $1.43 per share for the last quarter, surpassing expectations, with revenues increasing 20.8% year-over-year to $5.32 billion.
• The company has announced a quarterly dividend of $0.25 per share, translating to an annualized dividend yield of 1.4%, scheduled for distribution on September 29th.

APG Asset Management N.V. lessened its position in Newmont Corporation (NYSE:NEM - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 778,147 shares of the basic materials company's stock after selling 65,421 shares during the quarter. APG Asset Management N.V. owned approximately 0.07% of Newmont worth $34,780,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp lifted its position in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after buying an additional 191,940 shares in the last quarter. Invesco Ltd. increased its stake in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Newmont by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock valued at $350,166,000 after buying an additional 1,331,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction 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 transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock valued at $1,373,251 over the last quarter. Insiders own 0.05% of the company's stock.

Newmont Trading Up 0.8%

Shares of NEM stock traded up $0.61 during trading hours on Thursday, hitting $73.00. 6,790,857 shares of the company's stock traded hands, compared to its average volume of 11,733,077. The stock's 50 day simple moving average is $63.29 and its 200 day simple moving average is $54.58. The stock has a market cap of $80.18 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $73.29. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 30.50% and a return on equity of 17.86%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEM. UBS Group upped their price target on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target for the company. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Raymond James Financial upped their price target on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus price target 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.