Newmont Corporation $NEM Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its stake in Newmont Corporation (NYSE:NEM) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 913,848 shares of the basic materials company’s stock after buying an additional 119,905 shares during the period. Korea Investment CORP’s holdings in Newmont were worth $91,248,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC bought a new position in shares of Newmont in the fourth quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the fourth quarter worth $26,000. Cornerstone Planning Group LLC grew its stake in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont in the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the fourth quarter worth $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 49,950 shares of company stock valued at $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NEM shares. Scotiabank decreased their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. TD increased their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. TD Securities reissued a “hold” rating and issued a $129.00 price target on shares of Newmont in a research note on Monday, April 27th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Barclays started coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Trading Up 2.6%

Shares of NEM stock opened at $100.10 on Friday. The stock has a 50-day simple moving average of $110.94 and a 200 day simple moving average of $109.98. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The stock has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

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.