Newmont Corporation $NEM Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in shares of Newmont Corporation (NYSE:NEM) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 178,302 shares of the basic materials company’s stock after purchasing an additional 9,225 shares during the period. PNC Financial Services Group Inc.’s holdings in Newmont were worth $17,803,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in shares of Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Estate Counselors LLC acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd raised its position in shares of Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after purchasing an additional 44,846 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Wexler sold 13,378 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 43,068 shares of company stock valued at $4,769,475 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $107.74 on Friday. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a fifty day moving average price of $111.03 and a 200 day moving average price of $108.00. The company has a market cap of $115.02 billion, a P/E ratio of 13.97, a PEG ratio of 1.55 and a beta of 0.43.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, research analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analyst Ratings Changes

NEM has been the topic of several research reports. Jefferies Financial Group upped their price target on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Canaccord Genuity Group upped their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Stifel Nicolaus upped their price target on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Bank of America upped their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.05.

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.