Stack Financial Management Inc Sells 4,478 Shares of Newmont Corporation (NYSE:NEM)

Stack Financial Management Inc lowered its stake in Newmont Corporation (NYSE:NEM - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 297,468 shares of the basic materials company's stock after selling 4,478 shares during the quarter. Stack Financial Management Inc's holdings in Newmont were worth $14,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after acquiring an additional 1,379 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Newmont by 9.9% during 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 in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newmont during the 1st quarter valued at $423,000. Spire Wealth Management lifted its stake in shares of Newmont by 125.0% during 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 in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock valued at $2,511,000 after buying an additional 59,740 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of Newmont stock traded down $3.43 during trading hours on Tuesday, reaching $57.39. The company's stock had a trading volume of 28,722,702 shares, compared to its average volume of 10,741,601. The firm has a 50 day moving average price of $55.50 and a 200-day moving average price of $49.22. Newmont Corporation has a one year low of $36.86 and a one year high of $61.17. 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 stock has a market cap of $63.87 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.69 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $0.55 EPS. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors 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 annualized dividend and a yield of 1.74%. Newmont's payout ratio is 22.42%.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Raymond James Financial restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.49.

Insider Activity

In related news, 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 transaction, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director 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 disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last quarter. 0.05% of the stock is currently owned by insiders.

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.