Northwest & Ethical Investments L.P. Lowers Stock Holdings in Newmont Corporation $NEM

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Newmont Corporation (NYSE:NEM) by 42.4% in the first quarter, now holding 100,993 shares valued at approximately $4.87 million.
• Insider trading activity included Director Bruce R. Brook and CAO Brian Tabolt selling a combined total of 22,246 shares valued at $1.37 million over the last three months.
• Newmont announced a quarterly dividend of $0.25 per share, representing a yield of 1.4%, with payment scheduled for September 29th.

Northwest & Ethical Investments L.P. reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 42.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,993 shares of the basic materials company's stock after selling 74,210 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Newmont were worth $4,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Brighton Jones LLC grew its stake in shares of Newmont by 15.7% in the 4th 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. CreativeOne Wealth LLC purchased a new position in shares of Newmont in the 4th quarter valued at approximately $417,000. GeoWealth Management LLC grew its stake in shares of Newmont by 44.0% in the 4th quarter. GeoWealth Management LLC now owns 9,484 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 2,898 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Newmont by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company's stock valued at $281,797,000 after purchasing an additional 630,031 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Newmont by 9.9% in 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 purchasing an additional 8,678 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock valued at $1,373,251 over the last three months. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NEM shares. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group reissued a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, National Bankshares raised Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Stock Performance

Shares of NEM stock opened at $69.32 on Monday. The stock has a fifty day moving average price of $61.00 and a 200 day moving average price of $53.26. The stock has a market cap of $76.14 billion, a PE ratio of 12.45, a P/E/G ratio of 0.82 and a beta of 0.30. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $70.29. 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 (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. Newmont's revenue was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal 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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

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.

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.