Van ECK Associates Corp Grows Stock Position in Newmont Corporation $NEM

Van ECK Associates Corp grew its position in shares of Newmont Corporation (NYSE:NEM) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,780,063 shares of the basic materials company’s stock after buying an additional 5,643,496 shares during the period. Newmont comprises 2.5% of Van ECK Associates Corp’s portfolio, making the stock its 4th largest position. Van ECK Associates Corp owned 2.73% of Newmont worth $2,973,539,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NEM. Victory Capital Management Inc. raised its position in shares of Newmont by 16.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,746,707 shares of the basic materials company’s stock worth $573,809,000 after purchasing an additional 821,470 shares during the period. Ieq Capital LLC raised its position in shares of Newmont by 82.7% during the 4th quarter. Ieq Capital LLC now owns 466,909 shares of the basic materials company’s stock worth $46,621,000 after purchasing an additional 211,345 shares during the period. First National Bank of Omaha acquired a new stake in shares of Newmont during the 4th quarter worth approximately $4,820,000. Milford Funds Ltd. acquired a new stake in shares of Newmont during the 4th quarter worth approximately $101,749,000. Finally, Van Lanschot Kempen Investment Management N.V. raised its position in shares of Newmont by 3,895.7% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 100,252 shares of the basic materials company’s stock worth $10,010,000 after purchasing an additional 97,743 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,950 shares of company stock valued at $5,494,288 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $100.10 on Friday. The stock has a fifty day moving average price of $110.94 and a two-hundred day moving average price of $109.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market cap of $106.86 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the firm posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. Research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. BMO Capital Markets increased their price target on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Scotiabank dropped their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. Citigroup increased their price target on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. TD increased their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Finally, Macquarie Infrastructure increased their price target on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

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.