Ninety One SA PTY Ltd Acquires New Holdings in Newmont Corporation $NEM

Ninety One SA PTY Ltd acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,129 shares of the basic materials company’s stock, valued at approximately $2,979,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NEM. Nuveen LLC bought a new stake in Newmont during the first quarter valued at about $306,507,000. Pacer Advisors Inc. lifted its position in shares of Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after buying an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after buying an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after buying an additional 2,206,017 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Newmont by 21,069.5% during the first quarter. Panagora Asset Management Inc. now owns 1,357,812 shares of the basic materials company’s stock valued at $65,555,000 after buying an additional 1,351,398 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEM. Scotiabank boosted their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. UBS Group lifted their price target on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.38.

Newmont Stock Performance

Shares of NEM stock opened at $84.29 on Wednesday. The firm has a market capitalization of $92.59 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.34. 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 business has a fifty day moving average of $72.97 and a 200 day moving average of $60.37. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont’s dividend payout ratio is currently 17.95%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director directly owned 38,949 shares in the company, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 14,169 shares of company stock worth $955,286 over the last quarter. Insiders own 0.05% of the company’s stock.

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.