Newmont Corporation $NEM Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its stake in Newmont Corporation (NYSE:NEM) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,877,611 shares of the basic materials company’s stock after selling 530,384 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.80% of Newmont worth $428,611,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter worth $26,000. Colonial Trust Advisors increased its position in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the period. Private Trust Co. NA increased its position in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after buying an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new stake in Newmont in the first quarter worth $31,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. National Bankshares raised Newmont from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 25th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. UBS Group raised their target price on Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Stifel Canada upgraded Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $65.15.

Newmont Stock Up 0.3%

Shares of NEM stock opened at $75.96 on Wednesday. The stock’s 50 day simple moving average is $66.30 and its 200 day simple moving average is $56.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $77.30. The company has a market capitalization of $83.44 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.91 and a beta of 0.34.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. As a group, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by corporate insiders.

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.