Newmont Corporation (NYSE:NEM) Shares Sold by Marathon Asset Management Ltd

Marathon Asset Management Ltd cut its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,150 shares of the basic materials company's stock after selling 37,155 shares during the period. Marathon Asset Management Ltd's holdings in Newmont were worth $16,712,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NEM. Norges Bank acquired a new stake in shares of Newmont during the fourth quarter valued at about $626,074,000. Voloridge Investment Management LLC acquired a new stake in shares of Newmont during the fourth quarter valued at about $92,693,000. Capital Research Global Investors grew its stake in shares of Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Newmont during the fourth quarter valued at about $76,281,000. Finally, Invesco Ltd. grew its stake in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 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 transaction of $112,344.93. Following the transaction, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,154 shares of company stock valued at $381,539. Insiders own 0.05% of the company's stock.

Newmont Stock Performance

NEM opened at $56.76 on Friday. The business's 50 day moving average is $54.18 and its 200-day moving average is $47.53. The stock has a market cap of $63.17 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.78 and a beta of 0.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analysts Set New Price Targets

Several brokerages have recently commented on NEM. Royal Bank Of Canada increased their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday. Finally, Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.38.

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.

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