OVERSEA CHINESE BANKING Corp Ltd Has $405,000 Stock Holdings in Newmont Corporation (NYSE:NEM)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Newmont Corporation (NYSE:NEM - Free Report) by 41.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,378 shares of the basic materials company's stock after selling 5,988 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Newmont were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. raised its position in shares of Newmont by 7.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 45,861 shares of the basic materials company's stock valued at $2,214,000 after acquiring an additional 3,319 shares during the period. Apollon Wealth Management LLC increased its stake in Newmont by 37.6% during the 1st quarter. Apollon Wealth Management LLC now owns 10,973 shares of the basic materials company's stock worth $530,000 after purchasing an additional 2,997 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in Newmont by 3.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 103,366 shares of the basic materials company's stock worth $4,991,000 after purchasing an additional 3,409 shares in the last quarter. Sigma Planning Corp bought a new stake in Newmont during the 1st quarter worth approximately $211,000. Finally, Bleakley Financial Group LLC increased its stake in Newmont by 28.2% during the 1st quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company's stock worth $917,000 after purchasing an additional 4,179 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president owned 74,526 shares of the company's stock, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 in the last ninety days. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Raymond James Financial reissued an "outperform" rating and set a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.49.

Newmont Stock Down 1.0%

Shares of NYSE:NEM traded down $0.59 during midday trading on Thursday, hitting $57.86. The stock had a trading volume of 8,501,318 shares, compared to its average volume of 10,767,995. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $61.17. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The business's 50-day simple moving average is $55.64 and its 200-day simple moving average is $49.34. The company has a market cap of $64.40 billion, a P/E ratio of 12.99, a PEG ratio of 0.65 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the business earned $0.55 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is 22.42%.

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.