Whittier Trust Co. Reduces Holdings in Newmont Corporation (NYSE:NEM)

Whittier Trust Co. reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 82.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,185 shares of the basic materials company's stock after selling 10,127 shares during the period. Whittier Trust Co.'s holdings in Newmont were worth $105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SOA Wealth Advisors LLC. lifted its holdings in 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 last quarter. Cloud Capital Management LLC acquired a new position in Newmont during the first quarter worth $26,000. Private Trust Co. NA lifted its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Nexus Investment Management ULC acquired a new position in Newmont during the first quarter worth $31,000. Finally, Alpine Bank Wealth Management acquired a new position in Newmont during the first quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM traded up $0.23 during mid-day trading on Friday, hitting $58.22. 13,517,237 shares of the company's stock were exchanged, compared to its average volume of 10,841,254. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $61.17. The firm has a market capitalization of $64.80 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.65 and a beta of 0.33. The business's 50 day moving average is $55.83 and its two-hundred day moving average is $49.72. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont's payout ratio is currently 22.42%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the transaction, the executive vice president directly owned 74,526 shares of the company's stock, valued at approximately $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.49.

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.