Perpetual Ltd Reduces Holdings in Newmont Corporation (NYSE:NEM)

Perpetual Ltd trimmed its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 744,767 shares of the basic materials company's stock after selling 7,822 shares during the quarter. Perpetual Ltd owned 0.07% of Newmont worth $35,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. raised its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the period. Nexus Investment Management ULC purchased a new stake in shares of Newmont in the 1st quarter valued at approximately $31,000. Alpine Bank Wealth Management purchased a new position in Newmont in the first quarter worth approximately $32,000. Redwood Park Advisors LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $37,000. Finally, Promus Capital LLC acquired a new position in Newmont in the fourth quarter valued at about $38,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Tuesday. Raymond James Financial reissued an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Royal Bank Of Canada raised their price objective on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have assigned 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 $58.38.

Insider Transactions at Newmont

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

Newmont Stock Performance

NEM traded down $2.43 during trading on Friday, hitting $56.76. The stock had a trading volume of 16,535,668 shares, compared to its average volume of 10,548,894. The firm has a market capitalization of $63.17 billion, a P/E ratio of 12.73, a PEG ratio of 0.76 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $60.31. The company's 50-day moving average price is $54.15 and its 200 day moving average price is $47.43.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

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.