Vident Advisory LLC Buys 3,387 Shares of Newmont Corporation $NEM

Key Points

• Vident Advisory LLC raised its holdings in Newmont Corporation by 7.6%, acquiring 3,387 additional shares during the first quarter, bringing their total to 47,907 shares worth approximately $2.31 million.
• Insider transactions revealed significant share sales, with Director Bruce R. Brook selling 2,077 shares and CAO Brian Tabolt selling 7,015 shares, leading to decreases in their respective ownership stakes.
• Newmont Corporation announced a quarterly dividend of $0.25 per share, representing an annualized payout of $1.00 and a dividend yield of 1.3%, scheduled to be paid on September 29th.

Vident Advisory LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,907 shares of the basic materials company's stock after buying an additional 3,387 shares during the quarter. Vident Advisory LLC's holdings in Newmont were worth $2,313,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEM. Nuveen LLC bought a new stake in shares of Newmont during the 1st quarter worth $306,507,000. Pacer Advisors Inc. grew its position in shares of Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $92,693,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Newmont in the fourth quarter valued at about $75,435,000. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock worth $1,253,559 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded up $1.26 during mid-day trading on Friday, reaching $76.14. The company's stock had a trading volume of 8,676,401 shares, compared to its average volume of 7,931,247. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $77.30. The company has a market cap of $83.64 billion, a P/E ratio of 13.67, a PEG ratio of 0.90 and a beta of 0.34. 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 firm's 50-day moving average is $65.61 and its two-hundred day moving average is $55.94.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly 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 firm had revenue of $5.32 billion during 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 company's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on NEM. Royal Bank Of Canada raised their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Raymond James Financial raised their price target on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Scotiabank boosted their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.15.

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.