Newmont Corporation $NEM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Newmont stake by 5.4% in the first quarter, selling 159,149 shares and leaving it with 2.8 million shares worth about $303.4 million.
• Several analysts remain upbeat on Newmont, with a consensus rating of “Moderate Buy” and an average price target of $138.78, despite some recent price-target cuts.
• Newmont reported strong quarterly results, posting EPS of $2.90 on revenue of $7.31 billion, both above estimates, while also paying a $0.26 quarterly dividend.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,802,902 shares of the basic materials company's stock after selling 159,149 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Newmont worth $303,414,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter valued at $25,000. Pinnacle Bancorp Inc. acquired a new position in Newmont during the 1st quarter worth $25,000. Swiss RE Ltd. acquired a new position in Newmont during the 4th quarter worth $26,000. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Newmont during the 3rd quarter worth about $27,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Macquarie Infrastructure decreased their price objective on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. Argus upped their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Wall Street Zen cut shares of Newmont from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. Barclays initiated coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price target for the company. Finally, Royal Bank Of Canada lowered their price target on shares of Newmont from $160.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.78.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is currently owned by insiders.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont NYSE: NEM Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont NYSE: NEM Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont NYSE: NEM Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont NYSE: NEM EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% -- GF Value Says Still Overvalued

Newmont Stock Down 2.0%

Newmont stock opened at $93.20 on Thursday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $99.50 billion, a P/E ratio of 12.09, a PEG ratio of 1.58 and a beta of 0.46. The stock has a 50-day simple moving average of $104.89 and a 200-day simple moving average of $110.79.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm's quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts expect that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's dividend payout ratio (DPR) is 13.49%.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.