4,576 Shares of Newmont Corporation $NEM Bought by Conning Inc.

Conning Inc. bought a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,576 shares of the basic materials company’s stock, valued at approximately $528,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter valued at approximately $11,289,753,000. State Street Corp raised its holdings in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after buying an additional 1,565,716 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Newmont in the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp bought a new position in shares of Newmont during the 2nd quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new position in shares of Newmont during the 2nd quarter worth approximately $241,820,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. 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 35,973 shares of company stock valued at $3,927,169 over the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Stock Down 2.0%

NYSE NEM opened at $111.65 on Friday. The stock’s 50 day simple moving average is $121.04 and its 200 day simple moving average is $112.51. Newmont Corporation has a one year low of $78.60 and a one year high of $135.29. The firm has a market cap of $116.02 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 12.09%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEM. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a research report on Friday, October 16th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group lowered their target price on shares of Newmont from $127.50 to $119.00 in a report on Thursday, October 8th. Finally, Jefferies Financial Group increased their target price on shares of Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.20.

Newmont Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.