Barings LLC Has $14.09 Million Position in Newmont Corporation $NEM

Barings LLC boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,128 shares of the basic materials company’s stock after buying an additional 27,352 shares during the quarter. Barings LLC’s holdings in Newmont were worth $14,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Norges Bank acquired a new position in shares of Newmont in the 4th quarter worth approximately $1,443,128,000. Assetmark Inc. lifted its position in shares of Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after acquiring an additional 2,294,396 shares during the period. Boston Partners lifted its position in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after acquiring an additional 2,288,653 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Newmont by 106.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after acquiring an additional 2,146,905 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after acquiring an additional 1,914,286 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $97.52 on Friday. Newmont Corporation has a 12 month low of $54.14 and a 12 month high of $134.88. The stock has a 50 day moving average of $111.21 and a 200 day moving average of $110.05. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $104.11 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The company 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. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

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 transaction, the executive vice president directly owned 67,865 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This trade represents 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. Over the last ninety days, insiders sold 49,950 shares of company stock valued at $5,494,288. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada lowered their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $142.26.

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.