Chevy Chase Trust Holdings LLC decreased its stake in shares of Newmont Co. (NYSE:NEM – Free Report) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,809 shares of the basic materials company’s stock after selling 22,505 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Newmont were worth $31,060,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NEM. Perfromance Wealth Partners LLC purchased a new stake in shares of Newmont in the 2nd quarter valued at $549,000. First Horizon Advisors Inc. boosted its stake in shares of Newmont by 12.4% in the second quarter. First Horizon Advisors Inc. now owns 28,373 shares of the basic materials company’s stock valued at $1,188,000 after purchasing an additional 3,121 shares during the period. Continuum Advisory LLC raised its holdings in Newmont by 338.3% in the second quarter. Continuum Advisory LLC now owns 1,749 shares of the basic materials company’s stock valued at $73,000 after acquiring an additional 1,350 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Newmont by 13.2% in the second quarter. Nisa Investment Advisors LLC now owns 130,637 shares of the basic materials company’s stock valued at $5,470,000 after acquiring an additional 15,277 shares in the last quarter. Finally, TCW Group Inc. raised its holdings in Newmont by 7.3% during the second quarter. TCW Group Inc. now owns 16,139 shares of the basic materials company’s stock worth $676,000 after purchasing an additional 1,102 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.
Insider Transactions at Newmont
In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
Newmont Stock Performance
Shares of NEM stock traded up $0.18 on Wednesday, hitting $51.63. 2,104,390 shares of the stock traded hands, compared to its average volume of 10,848,330. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company has a market capitalization of $59.54 billion, a PE ratio of -19.26, a PEG ratio of 0.37 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $52.07. The company’s fifty day moving average is $45.70 and its 200 day moving average is $40.38.
Newmont (NYSE:NEM – Get Free Report) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities research analysts predict that Newmont Co. will post 2.76 earnings per share for the current fiscal year.
Newmont Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. Newmont’s payout ratio is -37.45%.
Newmont Company 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.
Featured Articles
- Five stocks we like better than Newmont
- Consumer Staples Stocks, Explained
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- 3 Warren Buffett Stocks to Buy Now
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- How to Use Stock Screeners to Find Stocks
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM – Free Report).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.