Lazard Asset Management LLC Raises Stock Holdings in Newmont Corporation $NEM

Lazard Asset Management LLC lifted its stake in Newmont Corporation (NYSE:NEM) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,414 shares of the basic materials company’s stock after buying an additional 22,393 shares during the quarter. Lazard Asset Management LLC’s holdings in Newmont were worth $10,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NEM. Apella Capital LLC grew its stake in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares during the period. New Wave Wealth Advisors LLC raised its stake in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 88 shares during the period. Novem Group raised its stake in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 88 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after purchasing an additional 96 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its holdings in Newmont by 28.6% during the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the sale, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. 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 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.2%

Shares of NEM opened at $91.34 on Thursday. The firm has a market cap of $96.24 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.46. 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 Corporation has a 1 year low of $61.76 and a 1 year high of $134.88. The company has a 50 day simple moving average of $99.02 and a two-hundred day simple moving average of $109.65.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion for 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 in the previous year, the firm earned $1.43 earnings per share. On average, equities analysts expect that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. TD raised shares of Newmont from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $129.00 to $127.00 in a research note on Tuesday, July 14th. 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. The Goldman Sachs Group dropped their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Raymond James Financial decreased their price target on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.83.

Newmont 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.