Sei Investments Co. Has $17.75 Million Stock Position in Newmont Corporation $NEM

Key Points

• Sei Investments Co. increased its holdings in Newmont Corporation by 6.1% during the first quarter, now owning 367,547 shares valued at approximately $17.7 million.
• Newmont reported earnings of $1.43 per share for the latest quarter, exceeding analysts' expectations of $0.95, with revenues up 20.8% year-over-year to $5.32 billion.
• The company has announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.5%, scheduled to be paid on September 29th.

Sei Investments Co. boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 367,547 shares of the basic materials company's stock after purchasing an additional 21,179 shares during the period. Sei Investments Co.'s holdings in Newmont were worth $17,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Nuveen LLC purchased a new position in Newmont during the first quarter valued at approximately $306,507,000. Pacer Advisors Inc. grew its position in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after acquiring an additional 5,251,616 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Newmont in the fourth quarter worth approximately $92,693,000. Capital Research Global Investors grew its position in Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Newmont in the fourth quarter worth approximately $75,435,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Scotiabank upped their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Finally, Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Stock Performance

Newmont stock traded down $1.7150 during mid-day trading on Tuesday, reaching $67.2850. The company had a trading volume of 5,599,278 shares, compared to its average volume of 11,871,664. The company has a 50 day moving average of $61.31 and a 200-day moving average of $53.44. The firm has a market cap of $73.91 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.82 and a beta of 0.30. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $70.29. 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 data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company 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 firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. On average, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,246 shares of company stock valued at $1,373,251. Company insiders own 0.05% of the company's stock.

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.