Hsbc Holdings PLC Increases Stock Position in Newmont Corporation $NEM

Hsbc Holdings PLC boosted its stake in Newmont Corporation (NYSE:NEM) by 3.8% in the first quarter, Holdings Channel.com reports. The fund owned 3,163,543 shares of the basic materials company’s stock after buying an additional 117,261 shares during the quarter. Hsbc Holdings PLC’s holdings in Newmont were worth $152,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. increased its stake in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in Newmont in the first quarter valued at $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Private Trust Co. NA increased its stake in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new position in Newmont in the first quarter valued at $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEM. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. CIBC set a $74.00 price target on shares of Newmont and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. UBS Group boosted their price target on shares of Newmont from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.58.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,246 shares of company stock valued at $1,373,251. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $67.3460 on Wednesday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $70.29. The firm has a fifty day moving average of $61.61 and a 200-day moving average of $53.54. The firm has a market capitalization of $73.98 billion, a P/E ratio of 12.09, a PEG ratio of 0.82 and a beta of 0.30. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Newmont 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.