Mutual of America Capital Management LLC Decreases Stake in Newmont Corporation (NYSE:NEM)

Mutual of America Capital Management LLC lessened its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,757 shares of the basic materials company's stock after selling 5,717 shares during the period. Mutual of America Capital Management LLC's holdings in Newmont were worth $7,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. increased its position in 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 period. Cloud Capital Management LLC acquired a new stake in shares of Newmont during the first quarter worth $26,000. Private Trust Co. NA raised its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the last quarter. Nexus Investment Management ULC bought a new position in shares of Newmont in the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Ratings Changes

NEM has been the subject of several research reports. Raymond James Financial restated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. CIBC increased their target price on Newmont from $60.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank Of Canada raised their price objective 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. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.49.

Newmont Stock Performance

Shares of NEM traded down $3.43 during mid-day trading on Tuesday, hitting $57.39. The stock had a trading volume of 28,722,702 shares, compared to its average volume of 10,721,582. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market cap of $63.87 billion, a P/E ratio of 12.87, a PEG ratio of 0.68 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $61.17. The business has a fifty day moving average price of $55.50 and a 200-day moving average price of $49.22.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly 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. In the last ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

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.