38,813 Shares in Newmont Corporation $NEM Bought by Westpac Banking Corp

Westpac Banking Corp acquired a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,813 shares of the basic materials company’s stock, valued at approximately $2,261,000.

Several other hedge funds have also recently made changes to their positions in NEM. Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 5,848 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares during the last quarter. Generate Investment Management Ltd lifted its stake in Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares during the period. Midwest Trust Co purchased a new stake in Newmont in the second quarter valued at $4,424,000. Finally, Kaizen Financial Strategies acquired a new stake in Newmont during the second quarter worth about $202,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Up 1.4%

Shares of NEM traded up $1.27 during trading on Monday, reaching $89.07. The company’s stock had a trading volume of 534,926 shares, compared to its average volume of 11,715,527. The company has a market cap of $97.20 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a fifty day moving average of $84.58 and a two-hundred day moving average of $68.92.

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

Newmont Announces Dividend

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

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,237 shares of company stock valued at $906,799 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. TD Securities boosted their target price on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. UBS Group raised their price objective on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. BNP Paribas Exane upped their target price on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Finally, BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $88.99.

Newmont 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.