Fractal Investments LLC Purchases Shares of 17,000 Newmont Corporation $NEM

Fractal Investments LLC acquired a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 17,000 shares of the basic materials company’s stock, valued at approximately $1,433,000. Newmont comprises approximately 0.2% of Fractal Investments LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEM. Norges Bank bought a new stake in Newmont during the second quarter worth approximately $919,170,000. Invesco Ltd. lifted its position in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after acquiring an additional 4,839,447 shares during the last quarter. Boston Partners boosted its stake in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after acquiring an additional 4,399,778 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of Newmont in the 2nd quarter worth $187,206,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Shares of NEM opened at $112.89 on Tuesday. The business’s 50-day moving average is $94.97 and its 200-day moving average is $81.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market capitalization of $123.20 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 0.80 and a beta of 0.41. Newmont Corporation has a fifty-two week low of $38.53 and a fifty-two week high of $113.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is 15.53%.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. TD Securities upped their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a research note on Friday, December 5th. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price on the stock. in a research report on Friday, December 5th. Royal Bank Of Canada upped their price target on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Bank of America raised their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $97.08.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by corporate insiders.

Newmont Profile

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.