Intech Investment Management LLC Has $8.03 Million Holdings in Newmont Corporation $NEM

Intech Investment Management LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 175.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 137,791 shares of the basic materials company’s stock after buying an additional 87,802 shares during the quarter. Intech Investment Management LLC’s holdings in Newmont were worth $8,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Colonial Trust Advisors grew its holdings in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners boosted its position in shares of Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. TCTC Holdings LLC grew its stake in shares of Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after buying an additional 362 shares during the period. Finally, Dagco Inc. bought a new stake in Newmont in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,237 shares of company stock worth $906,799. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NEM shares. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Bank of America lifted their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Finally, National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and an average price target of $88.99.

Newmont Trading Down 2.2%

NYSE NEM opened at $87.74 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $84.58 and a 200 day simple moving average of $68.92. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The firm has a market capitalization of $95.75 billion, a P/E ratio of 13.62, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 15.53%.

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.