M&G Investment Management Ltd. reduced its holdings in Newmont Co. (NYSE:NEM) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,744 shares of the basic materials company’s stock after selling 4,793 shares during the quarter. M&G Investment Management Ltd.’s holdings in Newmont were worth $4,605,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. First Trust Advisors LP raised its holdings in shares of Newmont by 10.0% in the 4th quarter. First Trust Advisors LP now owns 355,584 shares of the basic materials company’s stock worth $21,296,000 after purchasing an additional 32,250 shares in the last quarter. Steel Peak Wealth Management LLC raised its holdings in shares of Newmont by 3.8% during the fourth quarter. Steel Peak Wealth Management LLC now owns 6,966 shares of the basic materials company’s stock valued at $417,000 after acquiring an additional 254 shares during the period. WBI Investments acquired a new stake in shares of Newmont during the fourth quarter valued at approximately $2,518,000. Maryland State Retirement & Pension System acquired a new stake in shares of Newmont during the fourth quarter valued at approximately $799,000. Finally, Valley Forge Investment Consultants Inc. ADV acquired a new stake in shares of Newmont during the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
In related news, EVP Nancy Lipson sold 2,775 shares of the business’s stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $75.00, for a total value of $208,125.00. Following the completion of the transaction, the executive vice president now owns 27,350 shares of the company’s stock, valued at $2,051,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Blake Rhodes sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $75.00, for a total value of $225,000.00. Following the completion of the transaction, the senior vice president now directly owns 51,311 shares of the company’s stock, valued at approximately $3,848,325. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,862 shares of company stock valued at $3,255,921. 0.12% of the stock is owned by insiders.
NEM opened at $71.06 on Friday. Newmont Co. has a fifty-two week low of $53.16 and a fifty-two week high of $75.31. The company has a quick ratio of 2.12, a current ratio of 2.40 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $56.93 billion, a P/E ratio of 22.28 and a beta of 0.27. The stock’s fifty day moving average price is $67.77.
Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 29th. The basic materials company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). Newmont had a return on equity of 10.18% and a net margin of 21.77%. As a group, sell-side analysts expect that Newmont Co. will post 3.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, June 2nd. Newmont’s dividend payout ratio (DPR) is presently 82.71%.
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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.
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