Newmont Corporation $NEM Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of Newmont Corporation (NYSE:NEM) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,173,505 shares of the basic materials company’s stock after selling 238,900 shares during the quarter. Swiss National Bank’s holdings in Newmont were worth $267,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Physician Wealth Advisors Inc. lifted its holdings in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares during the period. Salomon & Ludwin LLC purchased a new position in Newmont during the 3rd quarter worth approximately $44,000. Capital A Wealth Management LLC raised its position in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in Newmont during the 3rd quarter valued at approximately $44,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

NYSE:NEM opened at $116.37 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company has a 50 day moving average price of $117.25 and a 200-day moving average price of $97.14. Newmont Corporation has a 1-year low of $42.03 and a 1-year high of $134.88. The firm has a market cap of $126.60 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 0.92 and a beta of 0.39.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. Newmont’s payout ratio is currently 16.28%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEM shares. Canaccord Genuity Group increased their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Argus raised their target price on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday. TD Securities cut their price target on Newmont from $120.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Finally, Citigroup lifted their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $134.15.

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.