Victory Capital Management Inc. Acquires 821,470 Shares of Newmont Corporation $NEM

Victory Capital Management Inc. boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 16.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,746,707 shares of the basic materials company’s stock after buying an additional 821,470 shares during the period. Victory Capital Management Inc.’s holdings in Newmont were worth $573,809,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Newmont during the fourth quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC lifted its stake in Newmont by 312.1% during 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 during the last quarter. Lodestone Wealth Management LLC bought a new stake in Newmont during the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Newmont during the fourth quarter worth about $30,000. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NEM shares. Barclays started coverage on Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target for the company. Jefferies Financial Group lifted their price target on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Royal Bank Of Canada dropped their price target on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. BNP Paribas Exane lifted their price target on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.26.

Newmont Stock Up 2.6%

NEM opened at $100.10 on Friday. The company has a market cap 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 business’s 50-day moving average price is $110.94 and its 200-day moving average price is $109.98. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s payout ratio 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.