Newmont Corporation $NEM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Newmont Corporation (NYSE:NEM) by 5.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,802,902 shares of the basic materials company’s stock after selling 159,149 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Newmont were worth $303,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. lifted its stake in shares of Newmont by 1.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 356,998 shares of the basic materials company’s stock valued at $38,305,000 after purchasing an additional 5,629 shares during the period. Munich Reinsurance Co Stock Corp in Munich increased its holdings in Newmont by 727.3% in the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 95,067 shares of the basic materials company’s stock valued at $10,291,000 after buying an additional 83,576 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Newmont by 1.8% in the first quarter. Frank Rimerman Advisors LLC now owns 8,412 shares of the basic materials company’s stock valued at $911,000 after buying an additional 146 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Newmont by 7.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 23,105 shares of the basic materials company’s stock valued at $2,501,000 after acquiring an additional 1,696 shares during the period. Finally, Flatrock Wealth Partners LLC acquired a new stake in shares of Newmont during the 1st quarter valued at approximately $268,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,556 shares of company stock worth $3,058,146 in the last ninety days. 0.06% of the stock is currently owned by insiders.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont (NYSE:NEM) Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont (NYSE:NEM) Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% — GF Value Says Still Overvalued

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NEM shares. Scotiabank lowered their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. UBS Group reduced their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Finally, TD lifted their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.78.

Newmont Trading Down 2.0%

Shares of Newmont stock opened at $93.20 on Thursday. 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 company has a market capitalization of $99.50 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.58 and a beta of 0.46. The business has a 50 day moving average price of $104.89 and a 200 day moving average price of $110.79.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

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.