Newmont Corporation (NYSE:NEM) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Newmont Corporation by 14.0%, owning approximately 1.75 million shares worth $84.26 million after selling 283,808 shares in the 1st quarter.
• Newmont Corporation reported $1.43 EPS for the last quarter, beating analysts' estimates by $0.48, and reported revenues of $5.32 billion, exceeding expectations by $620 million.
• The company announced a quarterly dividend of $0.25, which represents an annualized dividend yield of 1.5% and a payout ratio of 17.95%.

Russell Investments Group Ltd. decreased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,747,962 shares of the basic materials company's stock after selling 283,808 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Newmont worth $84,261,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NEM. Brighton Jones LLC grew its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the last quarter. Cerity Partners LLC grew its holdings in Newmont by 20.4% in the fourth quarter. Cerity Partners LLC now owns 70,450 shares of the basic materials company's stock valued at $2,622,000 after purchasing an additional 11,915 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Newmont in the fourth quarter valued at $35,117,000. Rockefeller Capital Management L.P. grew its holdings in Newmont by 4.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 404,700 shares of the basic materials company's stock valued at $15,063,000 after purchasing an additional 19,042 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in Newmont by 31.4% in the fourth quarter. Townsquare Capital LLC now owns 30,613 shares of the basic materials company's stock valued at $1,139,000 after purchasing an additional 7,314 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Up 1.2%

Shares of NYSE:NEM traded up $0.84 during mid-day trading on Friday, hitting $69.32. 7,907,348 shares of the company traded hands, compared to its average volume of 11,944,745. The firm has a market cap of $76.14 billion, a P/E ratio of 12.45, a PEG ratio of 0.81 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $70.29. The firm's 50 day simple moving average is $60.66 and its 200 day simple moving average is $52.92.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The company's revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the sale, the director directly owned 41,026 shares in the company, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $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 ninety days, insiders have sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NEM shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. Raymond James Financial increased their target price on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Royal Bank Of Canada increased their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group increased their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Wall Street Zen upgraded 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, six have issued a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.58.

About Newmont

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.