Newmont Corporation $NEM Shares Sold by Compagnie Lombard Odier SCmA

Key Points

• Compagnie Lombard Odier SCmA reduced its holdings in Newmont Corporation by 35.5%, now owning 12,005 shares valued at approximately $699,000.
• Newmont's recent quarterly earnings surpassed expectations, reporting $1.43 EPS and revenue of $5.32 billion, a 20.8% increase from the previous year.
• The company announced a quarterly dividend of $0.25, translating to an annualized yield of 1.2%, with a dividend payout ratio of 17.95%.

Compagnie Lombard Odier SCmA trimmed its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 35.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,005 shares of the basic materials company's stock after selling 6,605 shares during the period. Compagnie Lombard Odier SCmA's holdings in Newmont were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Newmont by 8.9% in the first 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 in the last quarter. Northern Trust Corp lifted its stake in Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock valued at $624,458,000 after buying an additional 191,940 shares in the last quarter. Amundi lifted its stake in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after buying an additional 343,535 shares in the last quarter. Invesco Ltd. grew its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after buying an additional 228,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after buying an additional 1,201,237 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

NEM opened at $84.59 on Wednesday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $86.62. The company's 50 day simple moving average is $70.47 and its 200 day simple moving average is $58.98. The stock has a market capitalization of $92.91 billion, a PE ratio of 15.19, a P/E/G ratio of 0.97 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly 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 firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts expect 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 issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director owned 38,949 shares in the company, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 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 $190,980.00. Following the sale, the executive vice president directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,246 shares of company stock valued at $1,253,559. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NEM shares. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Raymond James Financial lifted their price target on shares of Newmont from $77.00 to $84.00 and gave the stock an "outperform" rating in a report on Tuesday. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. Finally, Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.38.

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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