Vanguard Group Inc. Sells 40,192 Shares of Newmont Corporation (NYSE:NEM)

Key Points

• Vanguard Group Inc. has sold 40,192 shares of Newmont Corporation, bringing its total holdings to 135,087,421 shares, representing a 12.14% ownership worth approximately $6.52 billion.
• In the last quarter, insiders, including EVP Peter Toth and Director Bruce R. Brook, have reduced their positions in Newmont, selling 15,231 shares valued at about $896,091.
• Newmont recently announced a quarterly dividend of $0.25 per share, which will be paid on September 29, reflecting a yield of 1.5% and a dividend payout ratio of 17.95%.

Vanguard Group Inc. cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 0.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,087,421 shares of the basic materials company's stock after selling 40,192 shares during the period. Vanguard Group Inc. owned 12.14% of Newmont worth $6,522,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. Pacer Advisors Inc. boosted its holdings in Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after buying an additional 5,251,616 shares during the period. Voloridge Investment Management LLC bought a new position in Newmont in the 4th quarter worth approximately $92,693,000. Capital Research Global Investors boosted its holdings in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after buying an additional 2,338,953 shares during the period. Renaissance Technologies LLC bought a new position in Newmont in the 4th quarter worth approximately $76,281,000. Finally, Invesco Ltd. boosted its holdings in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on 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 owned 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction 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 transaction, the director owned 41,026 shares in the company, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,231 shares of company stock worth $896,091. 0.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $64.58.

Newmont Stock Performance

Newmont stock opened at $67.98 on Thursday. The firm's fifty day moving average price is $58.92 and its 200-day moving average price is $51.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock has a market cap of $74.67 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $68.44.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations 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 quarter last year, the company earned $0.72 EPS. On average, equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given 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 (DPR) is presently 17.95%.

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.

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