Oddo BHF Asset Management Sas Buys New Position in Newmont Corporation $NEM

Oddo BHF Asset Management Sas bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 128,716 shares of the basic materials company’s stock, valued at approximately $12,852,000.

Several other hedge funds also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Newmont in the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Canaccord Genuity Group raised their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Bank of America raised their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group raised their target price on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Barclays assumed coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. Finally, National Bank Financial raised their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.79.

Insiders Place Their Bets

In other news, EVP Peter Wexler sold 13,378 shares of Newmont 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 of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,556 shares of company stock worth $3,444,276 in the last three months. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of NEM stock opened at $105.77 on Tuesday. The company has a market capitalization of $112.91 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.66 and a beta of 0.42. The business’s 50 day moving average is $110.78 and its two-hundred day moving average is $110.28. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 earnings per share. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. 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 13.49%.

Newmont Company Profile

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.