MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Newmont Co. (NYSE:NEM – Free Report) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,081 shares of the basic materials company’s stock, valued at approximately $111,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after buying an additional 16,190,422 shares during the last quarter. Maj Invest Holding A S increased its stake in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors bought a new stake in shares of Newmont in the 1st quarter valued at about $49,444,000. Van ECK Associates Corp lifted its stake in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Newmont by 47.7% during the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock worth $140,460,000 after purchasing an additional 1,088,742 shares during the period. Institutional investors own 68.85% of the company’s stock.
Analysts Set New Price Targets
NEM has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Bank of America lifted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Finally, CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $53.31.
Insider Buying and Selling at Newmont
In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock worth $3,434,640 over the last three months. Corporate insiders own 0.06% of the company’s stock.
Newmont Stock Performance
NYSE:NEM opened at $54.82 on Tuesday. The company has a market cap of $63.22 billion, a price-to-earnings ratio of -20.53, a PEG ratio of 0.43 and a beta of 0.50. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a fifty day moving average price of $52.15 and a 200-day moving average price of $45.83.
Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. Newmont’s revenue was up 64.1% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Co. will post 3.1 EPS for the current fiscal year.
Newmont Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Newmont’s dividend payout ratio (DPR) is -37.45%.
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.
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