Baxter Bros Inc. Sells 2,252 Shares of Newmont Corporation $NEM

Baxter Bros Inc. lessened its position in Newmont Corporation (NYSE:NEM) by 28.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,720 shares of the basic materials company’s stock after selling 2,252 shares during the quarter. Baxter Bros Inc.’s holdings in Newmont were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after buying an additional 1,306,783 shares during the period. Northern Trust Corp boosted its position in Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after buying an additional 191,940 shares during the period. Amundi boosted its position in Newmont by 2.8% during the first quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after buying an additional 343,535 shares during the period. Invesco Ltd. boosted its position in Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after buying an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after buying an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last three months. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. TD Securities upped their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday. National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Stifel Nicolaus started coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price target for the company. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.56.

Newmont Stock Performance

Shares of NEM opened at $88.41 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $89.37. The company has a 50-day simple moving average of $75.86 and a two-hundred day simple moving average of $61.92. The firm has a market capitalization of $97.11 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the business posted $0.72 earnings per share. Newmont’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 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.