Newmont Corporation $NEM Shares Newly Bought by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,452,916 shares of the basic materials company’s stock, valued at approximately $282,919,000. Ninety One UK Ltd owned approximately 0.23% of Newmont as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Blue Trust Inc. increased its stake in shares of Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the last quarter. Accel Wealth Management lifted its holdings in shares of Newmont by 0.8% during the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after acquiring an additional 115 shares during the period. Bell Investment Advisors Inc boosted its position in shares of Newmont by 41.8% in the first quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 117 shares during the last quarter. Compound Planning Inc. boosted its position in shares of Newmont by 0.6% in the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after acquiring an additional 121 shares during the last quarter. Finally, Zhang Financial LLC boosted its position in shares of Newmont by 0.8% in the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their position. 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 three months, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. BNP Paribas Exane lowered their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Sanford C. Bernstein dropped their price target on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. TD increased their price target on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup decreased their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target on shares of Newmont in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $134.26.

Newmont Stock Up 2.2%

Shares of NEM traded up $2.48 during midday trading on Thursday, reaching $114.04. 2,719,867 shares of the company were exchanged, compared to its average volume of 8,555,460. The stock has a 50-day moving average price of $121.75 and a 200-day moving average price of $110.69. The company has a market cap of $120.16 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.14 and a beta of 0.51. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1-year low of $76.05 and a 1-year high of $135.29.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the company earned $1.43 earnings per share. Research analysts expect that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were paid a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is 13.13%.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.