Newmont Corporation (NYSE:NEM) Shares Sold by Barings LLC

Barings LLC trimmed its position in Newmont Corporation (NYSE:NEM) by 27.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 53,005 shares of the basic materials company’s stock after selling 19,719 shares during the period. Barings LLC’s holdings in Newmont were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. lifted its position in Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after purchasing an additional 200 shares during the period. SOA Wealth Advisors LLC. lifted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the period. HighPoint Advisor Group LLC lifted its position in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 219 shares during the period. Rothschild Investment LLC lifted its position in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 219 shares during the period. Finally, Twin Capital Management Inc. lifted its position in Newmont by 0.7% during the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company’s stock valued at $1,873,000 after purchasing an additional 254 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president owned 74,526 shares of the company’s stock, valued at $4,378,402.50. The trade was a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont 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 directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% 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. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $62.61 on Friday. 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 company has a fifty day moving average of $58.10 and a two-hundred day moving average of $51.28. The stock has a market capitalization of $68.77 billion, a PE ratio of 11.24, a P/E/G ratio of 0.76 and a beta of 0.30. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $66.57.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s payout ratio is 17.95%.

Analysts Set New Price Targets

Several research firms recently commented on NEM. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Scotiabank raised their price target on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. Finally, CIBC set a $74.00 price target on shares of Newmont and gave the company a “neutral” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.58.

Newmont 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.