Philadelphia Trust Co. Decreases Holdings in Newmont Corporation $NEM

Key Points

• Philadelphia Trust Co. reduced its position in Newmont Corporation by 13.3%, owning 209,435 shares after selling 32,224 shares, with these holdings valued at approximately $10.1 million.
• Other institutional investors have also made significant changes, with American Century Companies increasing its stake by 15.7% to nearly 994,038 shares worth nearly $48 million.
• Newmont announced a quarterly dividend of $0.25 per share, contributing to an annualized yield of 1.4% with a dividend payout ratio of 17.95%.

Philadelphia Trust Co. lowered its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,435 shares of the basic materials company's stock after selling 32,224 shares during the period. Philadelphia Trust Co.'s holdings in Newmont were worth $10,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Newmont by 8.9% in 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 during the period. Northern Trust Corp grew its position in Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the period. Invesco Ltd. grew its position in Newmont by 2.2% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Newmont by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock worth $350,166,000 after purchasing an additional 1,331,278 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 15.9% in 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 during the period. Institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company'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 transaction, the executive vice president directly owned 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 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 transaction of $132,221.82. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock worth $1,373,251 in the last three months. Corporate insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEM shares. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. CIBC set a $74.00 target price on shares of Newmont and gave the company a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, UBS Group lifted their target price on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Price Performance

Shares of Newmont stock traded down $1.6540 during trading hours on Tuesday, reaching $67.3460. The company's stock had a trading volume of 7,861,849 shares, compared to its average volume of 10,464,895. The stock has a market cap of $73.98 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.82 and a beta of 0.30. Newmont Corporation has a one year low of $36.86 and a one year high of $70.29. The firm has a 50 day moving average price of $61.31 and a 200-day moving average price of $53.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

Newmont Company 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.