Newmont Corporation (NYSE:NEM) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,014,066 shares of the basic materials company's stock after purchasing an additional 1,306,783 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.42% of Newmont worth $773,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its position in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Private Trust Co. NA increased its holdings in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the 1st quarter worth approximately $31,000. Alpine Bank Wealth Management purchased a new stake in Newmont in the 1st quarter worth approximately $32,000. Finally, Redwood Park Advisors LLC purchased a new stake in Newmont in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,231 shares of company stock worth $679,813. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

Shares of Newmont stock traded down $2.50 during trading hours on Tuesday, hitting $57.66. 14,732,121 shares of the company were exchanged, compared to its average volume of 10,630,804. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $64.18 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.76 and a beta of 0.33. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The business has a 50-day moving average of $54.79 and a 200-day moving average of $48.48.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. Newmont's dividend payout ratio (DPR) is 22.42%.

Analyst Ratings Changes

NEM has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.35.

Newmont 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.