Newmont Corporation $NEM Stake Lowered by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Newmont Corporation (NYSE:NEM) by 42.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,270 shares of the basic materials company’s stock after selling 6,730 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Newmont were worth $926,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NEM. GoalVest Advisory LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the fourth quarter valued at approximately $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 valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont during the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $28,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEM. Argus boosted their price objective on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reduced their price objective on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research report on Thursday, June 4th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Barclays began coverage on Newmont in a research report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price objective for the company. Finally, Citigroup boosted their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.79.

Newmont Stock Performance

NEM opened at $105.77 on Tuesday. The company has a market capitalization of $112.91 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The business has a 50 day moving average price of $110.78 and a two-hundred day moving average price of $110.28.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. Research analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is 13.49%.

Insider Transactions at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 31,556 shares of company stock valued at $3,444,276. 0.06% of the stock is currently owned by company insiders.

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.