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Newmont Corporation (NYSE:NEM) Shares Sold by Headlands Technologies LLC

Newmont logo with Basic Materials background

Key Points

  • Headlands Technologies LLC reduced its holdings in Newmont Corporation by 80.8%, owning 6,788 shares after selling 28,489 shares, valuing their stake at $328,000.
  • The company reported $1.43 EPS for the last quarter, significantly beating analysts' estimates, with a revenue of $5.32 billion, up 20.8% year-over-year.
  • Newmont recently announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.5% with a payout ratio of 17.95%.
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Headlands Technologies LLC trimmed its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 80.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,788 shares of the basic materials company's stock after selling 28,489 shares during the quarter. Headlands Technologies LLC's holdings in Newmont were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Bessemer Group Inc. increased its stake in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after buying an additional 1,379 shares during the period. First Trust Advisors LP increased its stake in Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after buying an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Newmont in the 1st quarter valued at $423,000. Spire Wealth Management increased its stake in Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after buying an additional 1,309 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in Newmont in the 1st quarter valued at $202,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEM shares. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial upped their price target on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

View Our Latest Analysis on Newmont

Newmont Price Performance

Shares of NYSE NEM opened at $68.96 on Friday. The stock has a market cap of $75.75 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.84 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's 50-day moving average price is $59.58 and its 200 day moving average price is $52.25. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. As a group, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the transaction, the director directly owned 41,026 shares in the company, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,246 shares of company stock worth $1,373,251. Corporate insiders own 0.05% of the company's stock.

Newmont Profile

(Free Report)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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