APG Asset Management N.V. Has $34.78 Million Stake in Newmont Corporation $NEM

APG Asset Management N.V. decreased its stake in shares of Newmont Corporation (NYSE:NEM) by 7.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 778,147 shares of the basic materials company’s stock after selling 65,421 shares during the period. APG Asset Management N.V.’s holdings in Newmont were worth $34,780,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after acquiring an additional 1,306,783 shares during the last quarter. Northern Trust Corp increased its holdings in shares of 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 during the last quarter. Invesco Ltd. increased its holdings in shares of 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 acquiring an additional 228,116 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Newmont by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company’s stock valued at $350,166,000 after buying an additional 1,331,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after buying an additional 1,201,237 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NEM shares. Royal Bank Of Canada raised their target price on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Stifel Nicolaus started coverage on Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 target price on the stock. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. Finally, National Bankshares upgraded Newmont from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.58.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

Newmont stock opened at $70.6610 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company has a market capitalization of $77.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. Newmont Corporation has a one year low of $36.86 and a one year high of $71.10. The business has a 50 day simple moving average of $62.46 and a 200 day simple moving average of $54.08.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.4%. Newmont’s payout ratio is presently 17.95%.

About Newmont

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.