Toronto Dominion Bank Sells 80,388 Shares of Newmont Co. (NYSE:NEM)

Toronto Dominion Bank lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 448,889 shares of the basic materials company’s stock after selling 80,388 shares during the quarter. Toronto Dominion Bank’s holdings in Newmont were worth $16,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. raised its position in Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after purchasing an additional 296 shares during the last quarter. Berkeley Capital Partners LLC grew its holdings in Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the last quarter. Crestmont Private Wealth LLC grew its holdings in Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 319 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in Newmont by 0.3% during the first quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock valued at $3,547,000 after purchasing an additional 338 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

Newmont stock traded up $1.03 on Friday, hitting $46.73. The company’s stock had a trading volume of 7,889,389 shares, compared to its average volume of 11,320,039. The firm has a market cap of $53.89 billion, a P/E ratio of -17.50, a price-to-earnings-growth ratio of 0.38 and a beta of 0.47. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $43.39 and a 200-day moving average price of $38.78. Newmont Co. has a one year low of $29.42 and a one year high of $48.97.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.65%. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, equities analysts anticipate that Newmont Co. will post 2.64 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced 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 of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. Newmont’s dividend payout ratio is presently -37.45%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Scotiabank increased their price target on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. TD Securities increased their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Citigroup lowered their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

About Newmont

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.