22,226 Shares in Newmont Corporation $NEM Purchased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,226 shares of the basic materials company’s stock, valued at approximately $1,295,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Nuveen LLC bought a new position in shares of Newmont in the first quarter valued at approximately $306,507,000. Pacer Advisors Inc. lifted its position in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the period. Boston Partners boosted its stake in Newmont by 4,081.8% during the 2nd quarter. Boston Partners now owns 4,633,175 shares of the basic materials company’s stock valued at $271,982,000 after purchasing an additional 4,522,381 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after purchasing an additional 4,399,778 shares during the period. Finally, LSV Asset Management bought a new stake in shares of Newmont in the 2nd quarter worth $187,206,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

NYSE NEM opened at $87.42 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company has a market cap of $95.40 billion, a PE ratio of 13.57, a PEG ratio of 0.53 and a beta of 0.33. The stock’s 50-day moving average price is $85.20 and its two-hundred day moving average price is $69.54.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank Of Canada raised their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $88.99.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,237 shares of company stock valued at $906,799 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Newmont Profile

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.