Rathbones Group PLC trimmed its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 27.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,491 shares of the basic materials company's stock after selling 31,310 shares during the period. Rathbones Group PLC's holdings in Newmont were worth $8,930,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also modified their holdings of NEM. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its holdings in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after buying an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC boosted its position in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock valued at $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after acquiring an additional 3,856 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,882 shares of company stock valued at $1,001,952 over the last three months. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

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Shares of NEM stock opened at $95.47 on Tuesday. The stock's 50-day moving average is $98.24 and its two-hundred day moving average is $109.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 1 year low of $63.13 and a 1 year high of $134.88. The firm has a market cap of $100.60 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.05 and a beta of 0.47.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the previous year, the business earned $1.43 EPS. Analysts predict that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Dividend Announcement

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio is presently 13.13%.

Analyst Ratings Changes

NEM has been the topic of several analyst reports. TD upgraded Newmont from a "hold" rating to a "buy" rating and reduced their price objective for the company from $129.00 to $127.00 in a research note on Tuesday, July 14th. BMO Capital Markets cut their price target on Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Canaccord Genuity Group decreased their price objective on Newmont from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Finally, TD Securities raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $132.11.

Check Out Our Latest Stock Analysis on NEM

Newmont Profile

(Free Report)

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.

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Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

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