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Oxbow Advisors LLC Sells 135,013 Shares of Newmont Corporation $NEM

Newmont logo with Basic Materials background

Key Points

  • Oxbow Advisors LLC significantly reduced its stake in Newmont Corporation by 96.2%, selling 135,013 shares, and now holds only 5,310 shares valued at $309,000.
  • Multiple institutional investors, including Bank of New York Mellon Corp and Amundi, have increased their holdings in Newmont during the first quarter, indicating ongoing interest in the stock.
  • Newmont announced a quarterly dividend of $0.25 per share, representing a 1.0% yield and a dividend payout ratio of 17.95%.
  • MarketBeat previews the top five stocks to own by November 1st.

Oxbow Advisors LLC reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 96.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,310 shares of the basic materials company's stock after selling 135,013 shares during the period. Oxbow Advisors LLC's holdings in Newmont were worth $309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares in the last quarter. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi increased its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares in the last quarter. Invesco Ltd. increased its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Securities upped their target price on Newmont from $67.00 to $89.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. UBS Group upped their target price on Newmont from $92.00 to $105.50 and gave the company a "buy" rating in a report on Thursday. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.59.

Check Out Our Latest Stock Report on Newmont

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the 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 sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. Insiders own 0.05% of the company's stock.

Newmont Price Performance

Newmont stock opened at $98.22 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The business's 50 day simple moving average is $78.81 and its 200 day simple moving average is $63.68. The company has a market cap of $107.89 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.02 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont's dividend payout ratio is presently 17.95%.

Newmont Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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