Union Bancaire Privee UBP SA Trims Stock Holdings in Newmont Corporation $NEM

Union Bancaire Privee UBP SA lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 42.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,982 shares of the basic materials company’s stock after selling 8,964 shares during the period. Union Bancaire Privee UBP SA’s holdings in Newmont were worth $1,297,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC grew its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at approximately $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $96.09 on Friday. The company has a market cap of $102.58 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.42. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock’s 50-day moving average is $107.94 and its 200-day moving average is $110.78.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,556 shares of company stock valued at $3,120,276 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. BMO Capital Markets cut their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Argus increased their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Canaccord Genuity Group raised their price objective on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Citigroup lifted their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.50.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.