iA Global Asset Management Inc. Buys 5,019 Shares of Newmont Corporation $NEM

iA Global Asset Management Inc. increased its stake in shares of Newmont Corporation (NYSE:NEM) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,344 shares of the basic materials company’s stock after acquiring an additional 5,019 shares during the quarter. iA Global Asset Management Inc.’s holdings in Newmont were worth $7,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $570,000. Olympiad Research LP purchased a new position in shares of Newmont in the third quarter worth $322,000. Bailard Inc. bought a new stake in Newmont during the 3rd quarter valued at $269,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Newmont during the 3rd quarter valued at $242,000. Finally, Rakuten Investment Management Inc. bought a new stake in Newmont in the 3rd quarter worth $1,559,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock valued at $767,206 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $124.34 on Friday. The business has a fifty day moving average price of $100.57 and a 200-day moving average price of $84.59. 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 $135.69 billion, a PE ratio of 19.31, a PEG ratio of 0.92 and a beta of 0.41. Newmont Corporation has a 1-year low of $40.85 and a 1-year high of $124.64.

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

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. National Bankshares lifted their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, TD Securities increased their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $99.49.

About Newmont

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.