Royal London Asset Management Ltd. Buys New Stake in Newmont Corporation $NEM

Royal London Asset Management Ltd. purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 650,583 shares of the basic materials company’s stock, valued at approximately $13,597,000. Royal London Asset Management Ltd. owned 0.06% of Newmont at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter valued at about $11,289,753,000. State Street Corp boosted its holdings in Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares during the period. Van ECK Associates Corp purchased a new position in Newmont in the 2nd quarter worth approximately $671,197,000. Geode Capital Management LLC grew its position in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after acquiring an additional 946,824 shares in the last quarter. Finally, Norges Bank acquired a new stake in Newmont in the fourth quarter valued at approximately $1,443,128,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 25,209 shares of company stock worth $2,567,701. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $125.87 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 1 year low of $72.78 and a 1 year high of $135.29. The firm’s 50-day simple moving average is $104.71 and its 200-day simple moving average is $109.53. The firm has a market cap of $132.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate 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 firm earned $1.43 earnings per share. Equities analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Bank of America reduced their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Barclays dropped their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, BNP Paribas Exane lowered their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $132.73.

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.