Newmont Corporation (NYSE:NEM) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC has reduced its stake in Newmont Corporation by 50.3%, owning 70,177 shares worth approximately $3.39 million after selling 71,127 shares.
• Several institutional investors, including Pacer Advisors Inc., have significantly increased their holdings in Newmont, with one raising their stake by 4,203.5% to over 5.3 million shares valued at $259.58 million.
• Newmont Corporation reported earnings of $1.43 EPS for the quarter, exceeding analyst expectations, and announced a dividend of $0.25 payable on September 29th, representing an annualized yield of 1.5%.

Mizuho Markets Americas LLC lowered its position in Newmont Corporation (NYSE:NEM - Free Report) by 50.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,177 shares of the basic materials company's stock after selling 71,127 shares during the quarter. Mizuho Markets Americas LLC's holdings in Newmont were worth $3,388,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Pacer Advisors Inc. lifted its holdings in Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after buying an additional 5,251,616 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the 4th quarter valued at about $92,693,000. Capital Research Global Investors raised its stake in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Newmont in the 4th quarter valued at about $75,435,000. Finally, Man Group plc raised its stake in shares of Newmont by 42.2% in the 4th quarter. Man Group plc now owns 5,030,228 shares of the basic materials company's stock valued at $187,225,000 after purchasing an additional 1,493,843 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Stifel Nicolaus began coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Price Performance

NYSE NEM opened at $68.96 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $70.29. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $75.75 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. The company has a 50-day moving average price of $59.58 and a two-hundred day moving average price of $52.17.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during 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%. Newmont's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. 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 is currently 17.95%.

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.

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.