NFJ Investment Group LLC Increases Stake in Newmont Corporation $NEM

NFJ Investment Group LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 175.6% during the 4th quarter, HoldingsChannel reports. The fund owned 132,079 shares of the basic materials company’s stock after acquiring an additional 84,147 shares during the period. NFJ Investment Group LLC’s holdings in Newmont were worth $13,188,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWM LLC increased its position in Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd increased its position in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Leonteq Securities AG acquired a new stake in Newmont during the 4th quarter worth approximately $9,018,000. Finally, Waverton Investment Management Ltd increased its position in Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock worth $59,365,000 after purchasing an additional 23,139 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, 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 transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 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 value of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 49,950 shares of company stock valued at $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Citigroup increased their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. TD Securities reissued a “hold” rating and set a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Finally, Macquarie Infrastructure increased their target price on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Stock Up 2.6%

Shares of NYSE:NEM opened at $100.10 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a 50 day moving average of $110.94 and a two-hundred day moving average of $109.98. The company has a market capitalization of $106.86 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

About Newmont

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.