UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $428.61 Million Position in Newmont Corporation $NEM

Key Points

• UBS Asset Management reduced its stake in Newmont Corporation by 5.6% in the first quarter, owning approximately 8.88 million shares valued at $428.61 million.
• Analysts have mixed views on Newmont, with ratings ranging from "strong buy" to "hold," and an average target price of $65.15 reflecting expectations for future growth.
• Newmont announced a quarterly dividend of $0.25 per share, with the annualized yield being 1.3%, and a payout ratio of 17.95% as of the latest disclosure.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,877,611 shares of the basic materials company's stock after selling 530,384 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.80% of Newmont worth $428,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its position in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Newmont during the first quarter worth approximately $26,000. Colonial Trust Advisors boosted its position 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 buying an additional 429 shares during the period. Private Trust Co. NA boosted its position 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 buying an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new position in shares of Newmont during the first quarter worth approximately $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NEM traded down $0.40 during trading on Friday, reaching $79.25. The stock had a trading volume of 8,282,397 shares, compared to its average volume of 8,566,614. The firm has a market capitalization of $87.05 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $80.07. The stock has a 50 day moving average of $67.46 and a two-hundred day moving average of $57.05. 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 posted 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 company had revenue of $5.32 billion for 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%.The firm's revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont's dividend payout ratio is currently 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the company's 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,246 shares of company stock valued at $1,253,559. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Raymond James Financial boosted their price objective on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.38.

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.