Newmont Corporation $NEM Shares Newly Acquired by Ninety One UK Ltd

Ninety One UK Ltd acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, Holdings Channel reports. The firm acquired 2,452,916 shares of the basic materials company’s stock, valued at approximately $282,919,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont in the 1st quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the first quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the third quarter worth approximately $28,000. Clearstead Trust LLC acquired a new stake in shares of Newmont during the second quarter worth approximately $25,000. Finally, Kilter Group LLC bought a new stake in shares of Newmont in the second quarter worth $26,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock traded up $2.48 during midday trading on Thursday, reaching $114.04. The company had a trading volume of 2,719,867 shares, compared to its average volume of 8,555,460. The firm has a market capitalization of $120.16 billion, a PE ratio of 14.38, a P/E/G ratio of 2.14 and a beta of 0.51. The stock has a 50 day moving average price of $121.75 and a 200 day moving average price of $110.69. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same period last year, the company earned $1.43 earnings per share. Analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is 13.13%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NEM shares. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a report on Friday, August 14th. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price objective on shares of Newmont in a research note on Monday, August 24th. Royal Bank Of Canada increased their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group dropped their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.