Newmont Corporation $NEM Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Newmont Corporation (NYSE:NEM) by 78.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,321 shares of the basic materials company’s stock after selling 189,582 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Newmont were worth $2,574,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. SOA Wealth Advisors LLC. grew its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter valued at about $26,000. Colonial Trust Advisors boosted its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Private Trust Co. NA grew its position in shares of Newmont by 122.6% during 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 in the last quarter. Finally, Nexus Investment Management ULC purchased a new stake in shares of Newmont during the first quarter worth approximately $31,000. Hedge funds and other 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 Newmont stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the sale, the director directly owned 41,026 shares of the company’s stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,246 shares of company stock valued at $1,373,251 over the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 2.3%

NYSE NEM opened at $68.9470 on Thursday. The firm’s fifty day moving average price is $61.92 and its 200 day moving average price is $53.65. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $70.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company has a market capitalization of $75.73 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEM. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. National Bankshares raised shares of Newmont from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 25th. UBS Group boosted their target price on shares of Newmont from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $64.58.

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.