Quantinno Capital Management LP Grows Stake in Newmont Corporation $NEM

Quantinno Capital Management LP increased its holdings in Newmont Corporation (NYSE:NEM) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 496,742 shares of the basic materials company’s stock after acquiring an additional 55,176 shares during the quarter. Quantinno Capital Management LP’s holdings in Newmont were worth $53,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after purchasing an additional 637,996 shares in the last quarter. State Street Corp raised its stake in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after buying an additional 480,223 shares in the last quarter. Van ECK Associates Corp raised its stake in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank purchased a new stake in Newmont in the fourth quarter worth about $1,443,128,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NEM. Macquarie Infrastructure dropped their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. BMO Capital Markets decreased their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Royal Bank Of Canada lowered their price objective on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Newmont in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $132.83.

Newmont Stock Performance

Shares of NEM opened at $91.34 on Thursday. The company has a market cap of $96.24 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.02 and a beta of 0.46. The business’s fifty day simple moving average is $99.02 and its two-hundred day simple moving average is $109.65. Newmont Corporation has a 12 month low of $61.76 and a 12 month high of $134.88. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the prior year, the business earned $1.43 EPS. Research analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is 13.13%.

Insider Buying and Selling

In other news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,556 shares of company stock worth $3,058,146. Company insiders own 0.06% of the company’s stock.

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.