Aberdeen Group plc Sells 151,293 Shares of Newmont Corporation $NEM

Aberdeen Group plc lessened its stake in Newmont Corporation (NYSE:NEM) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,770,961 shares of the basic materials company’s stock after selling 151,293 shares during the period. Aberdeen Group plc’s holdings in Newmont were worth $103,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Newmont by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after acquiring an additional 1,306,783 shares during the last quarter. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after purchasing an additional 191,940 shares during the period. Amundi increased its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. increased its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a report on Friday. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 target price on the stock. Finally, Stifel Canada upgraded Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.10.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 in the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.2%

NEM stock opened at $85.07 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company has a market capitalization of $93.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.95 and a beta of 0.34. The business’s 50 day moving average price is $76.77 and its two-hundred day moving average price is $62.44. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio is presently 17.95%.

Newmont 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.