ORG Partners LLC Trims Position in Newmont Corporation (NYSE:NEM)

ORG Partners LLC cut its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 55.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,749 shares of the basic materials company's stock after selling 14,895 shares during the quarter. ORG Partners LLC's holdings in Newmont were worth $569,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC purchased a new stake in Newmont during the fourth quarter valued at $92,693,000. Capital Research Global Investors lifted its position in Newmont by 70.7% during the fourth 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 during the last quarter. Renaissance Technologies LLC bought a new position in Newmont during the fourth quarter valued at $76,281,000. Finally, Invesco Ltd. grew its stake in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Trading Down 0.1%

NEM stock traded down $0.04 during mid-day trading on Friday, hitting $58.22. 22,113,769 shares of the company were exchanged, compared to its average volume of 10,465,606. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $59.16. The firm has a market capitalization of $64.79 billion, a P/E ratio of 13.93, a PEG ratio of 0.98 and a beta of 0.31. The business has a fifty day simple moving average of $53.86 and a 200-day simple moving average of $46.99. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares in the company, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NEM shares. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont 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.