Newmont Corporation (NYSE:NEM) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its holdings in Newmont Corporation by 7.7%, now owning 181,094 shares valued at approximately $8.74 million.
• Newmont reported a 20.8% increase in revenue year-over-year, achieving $5.32 billion for the quarter and earnings per share of $1.43, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.5%, reflecting a dividend payout ratio of 17.95%.

US Bancorp DE reduced its position in Newmont Corporation (NYSE:NEM - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,094 shares of the basic materials company's stock after selling 15,120 shares during the quarter. US Bancorp DE's holdings in Newmont were worth $8,743,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% in 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 period. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $26,000. Private Trust Co. NA boosted its holdings in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares during the period. Nexus Investment Management ULC acquired a new stake in shares of Newmont in the first quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the first quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM stock traded up $2.83 during mid-day trading on Monday, reaching $65.42. The stock had a trading volume of 9,763,123 shares, compared to its average volume of 13,063,871. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $66.57. The company has a market cap of $71.86 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The business has a 50-day simple moving average of $58.10 and a 200 day simple moving average of $51.42. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter last year, the business posted $0.72 earnings per share. The business's revenue for the quarter was up 20.8% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Scotiabank increased their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target for the company. Finally, Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares in the company, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,154 shares of company stock worth $572,889. Corporate insiders own 0.05% of the company's stock.

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.