International Assets Investment Management LLC Decreases Holdings in Newmont Corporation (NYSE:NEM)

International Assets Investment Management LLC cut its position in Newmont Corporation (NYSE:NEM) by 15.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,886 shares of the basic materials company’s stock after selling 2,820 shares during the period. International Assets Investment Management LLC’s holdings in Newmont were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pacific Sage Partners LLC purchased a new stake in shares of Newmont during the 1st quarter valued at approximately $224,000. Win Advisors Inc. purchased a new position in Newmont in the 1st quarter valued at approximately $960,000. Asset Management One Co. Ltd. raised its holdings in Newmont by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 570,055 shares of the basic materials company’s stock valued at $27,522,000 after acquiring an additional 16,001 shares during the period. Private Harbour Investment Management & Counsel LLC purchased a new stake in shares of Newmont during the first quarter worth $225,000. Finally, Uncommon Cents Investing LLC lifted its position in shares of Newmont by 6.9% during the first quarter. Uncommon Cents Investing LLC now owns 34,915 shares of the basic materials company’s stock worth $1,686,000 after acquiring an additional 2,260 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company’s stock, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $381,539 over the last three months. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Cfra Research raised shares of Newmont to a “strong-buy” rating in a report on Friday, April 25th. Finally, UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $57.68.

Newmont Trading Down 0.1%

NYSE NEM opened at $58.06 on Thursday. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $54.07 and its two-hundred day simple moving average is $47.31. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $60.31. The company has a market capitalization of $64.62 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.76 and a beta of 0.31.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

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.