Dorsey & Whitney Trust CO LLC Sells 508 Shares of Newmont Corporation $NEM

Dorsey & Whitney Trust CO LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 6.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,737 shares of the basic materials company’s stock after selling 508 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Newmont were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its stake in Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. raised its stake in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock worth $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. raised 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 acquiring an additional 201 shares during the period. Rothschild Investment LLC raised its stake in Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 219 shares during the period. Finally, Twin Capital Management Inc. raised its stake in Newmont by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company’s stock worth $1,873,000 after acquiring an additional 254 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NEM shares. Argus set a $63.00 target price on shares of Newmont in a research note on Friday, April 25th. CIBC set a $74.00 target price on shares of Newmont and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Raymond James Financial increased their price objective on shares of Newmont from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Scotiabank increased their price objective on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. Four research 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.58.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock worth $1,373,251 over the last three months. 0.05% of the stock is owned by insiders.

Newmont Trading Up 0.8%

NEM stock opened at $70.6610 on Friday. The firm has a fifty day moving average price of $62.46 and a 200 day moving average price of $54.02. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $71.10. 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 firm has a market cap of $77.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30.

Newmont (NYSE:NEM) last posted its 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. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm posted $0.72 earnings per share. Newmont’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Newmont’s dividend payout ratio (DPR) is currently 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.