Trexquant Investment LP Sells 237,670 Shares of Newmont Corporation $NEM

Key Points

• Trexquant Investment LP significantly reduced its holdings in Newmont Corporation by 53.7% during the first quarter, bringing its total shares down to 204,670, valued at approximately $9.88 million.
• Institutional investors own 68.85% of Newmont's stock, with several firms, including SOA Wealth Advisors LLC and Colonial Trust Advisors, recently increasing their stakes.
• Newmont's stock recently traded at $74.48 following a strong earnings report, which revealed earnings per share of $1.43—beating estimates by 48 cents—and a 20.8% year-over-year revenue increase.

Trexquant Investment LP lowered its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,670 shares of the basic materials company's stock after selling 237,670 shares during the quarter. Trexquant Investment LP's holdings in Newmont were worth $9,881,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hemington Wealth Management lifted its holdings in Newmont by 25.2% during the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. raised its holdings in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. raised its holdings in Newmont by 64.0% during the 1st 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 period. Rothschild Investment LLC lifted its stake in Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares in the last quarter. Finally, Twin Capital Management Inc. increased its holdings in shares of Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after purchasing an additional 254 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,169 shares of company stock worth $1,098,636 in the last three months. 0.05% of the stock is owned by insiders.

Newmont Trading Down 0.6%

Shares of NEM stock traded down $0.43 on Wednesday, hitting $75.43. 6,835,439 shares of the company's stock traded hands, compared to its average volume of 11,697,505. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a one year low of $36.86 and a one year high of $76.52. The company's fifty day simple moving average is $64.56 and its 200 day simple moving average is $55.41. The stock has a market capitalization of $82.86 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.88 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last released its 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. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEM. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Scotiabank upped their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted 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. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.15.

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.