Groupama Asset Managment Trims Stock Position in Newmont Corporation $NEM

Groupama Asset Managment lessened its position in shares of Newmont Corporation (NYSE:NEM) by 34.5% during the first quarter, HoldingsChannel.com reports. The fund owned 46,735 shares of the basic materials company’s stock after selling 24,615 shares during the period. Groupama Asset Managment’s holdings in Newmont were worth $5,059,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NEM. Groupe la Francaise boosted its holdings in Newmont by 51.9% in the 1st quarter. Groupe la Francaise now owns 448,860 shares of the basic materials company’s stock valued at $48,448,000 after purchasing an additional 153,360 shares during the period. Arete Wealth Advisors LLC increased its holdings in shares of Newmont by 90.4% in the first quarter. Arete Wealth Advisors LLC now owns 44,950 shares of the basic materials company’s stock worth $4,853,000 after purchasing an additional 21,338 shares during the period. Norris Financial Group LLC purchased a new stake in shares of Newmont in the first quarter worth $2,696,000. Flax Pond Capital LLC raised its position in shares of Newmont by 13.7% in the first quarter. Flax Pond Capital LLC now owns 41,630 shares of the basic materials company’s stock worth $4,506,000 after buying an additional 5,000 shares in the last quarter. Finally, Oddo BHF Asset Management Sas boosted its stake in Newmont by 22.3% during the first quarter. Oddo BHF Asset Management Sas now owns 157,384 shares of the basic materials company’s stock valued at $17,037,000 after buying an additional 28,668 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 2.2%

Shares of NEM stock opened at $93.70 on Friday. The stock has a market capitalization of $98.73 billion, a PE ratio of 11.83, a P/E/G ratio of 1.07 and a beta of 0.46. Newmont Corporation has a 1-year low of $61.76 and a 1-year high of $134.88. The business has a 50-day moving average of $98.48 and a 200 day moving average of $109.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the firm earned $1.43 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NEM shares. Macquarie Infrastructure decreased their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Scotiabank dropped their price target on Newmont from $151.00 to $147.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. National Bank Financial decreased their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Bank of America lowered their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.83.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,882 shares of company stock worth $1,001,952. 0.06% of the stock is owned by insiders.

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.