Newmont Corporation $NEM Shares Bought by National Pension Service

National Pension Service grew its position in Newmont Corporation (NYSE:NEM) by 34.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,239,315 shares of the basic materials company’s stock after buying an additional 1,090,853 shares during the quarter. National Pension Service’s holdings in Newmont were worth $246,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi lifted its stake in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after buying an additional 343,535 shares in the last quarter. Invesco Ltd. grew its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after buying an additional 228,116 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after buying an additional 1,201,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Newmont by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock worth $333,192,000 after acquiring an additional 50,840 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is currently owned by corporate insiders.

Newmont Trading Up 1.9%

NEM stock opened at $89.94 on Wednesday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The company has a market cap of $98.15 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.53 and a beta of 0.33. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $83.70 and a 200-day simple moving average of $68.14.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. UBS Group boosted their price target on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.99.

Newmont Company Profile

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.