Sumitomo Mitsui Trust Group Inc. Sells 60,621 Shares of Newmont Corporation (NYSE:NEM)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Newmont Corporation (NYSE:NEM - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,882,310 shares of the basic materials company's stock after selling 60,621 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Newmont worth $139,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its position in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the last quarter. Nexus Investment Management ULC bought a new position in Newmont in the 1st quarter valued at $31,000. Alpine Bank Wealth Management purchased a new stake in shares of Newmont during the 1st quarter valued at $32,000. PSI Advisors LLC raised its stake in shares of Newmont by 195.5% during the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after purchasing an additional 526 shares during the period. Finally, Grove Bank & Trust boosted its holdings in shares of Newmont by 84.0% in the 1st quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock worth $44,000 after buying an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity

In other Newmont 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 $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. 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 business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock worth $381,539 in the last three months. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Down 4.1%

Shares of NYSE NEM opened at $56.76 on Friday. 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 company has a market cap of $63.17 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.75 and a beta of 0.31. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31. The business has a 50-day simple moving average of $54.18 and a two-hundred day simple moving average of $47.57.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. 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%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. Argus set a $63.00 price objective on shares of Newmont in a report on Friday, April 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Raymond James Financial reissued an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.38.

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.

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