Swiss National Bank Has $198.81 Million Stock Holdings in Newmont Corporation $NEM

Swiss National Bank boosted its position in Newmont Corporation (NYSE:NEM) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,412,405 shares of the basic materials company’s stock after acquiring an additional 201,400 shares during the quarter. Swiss National Bank’s holdings in Newmont were worth $198,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Colonial Trust Advisors grew its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares during the period. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its position in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. TCTC Holdings LLC increased its stake in Newmont by 123.1% during the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 362 shares in the last quarter. Finally, Dagco Inc. bought a new stake in Newmont during the 1st quarter valued at $32,000. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. UBS Group lifted their price objective on shares of Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. BNP Paribas Exane raised their price target on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Citigroup lifted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Bank of America increased their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.99.

Newmont Stock Performance

Shares of Newmont stock opened at $83.38 on Friday. The business’s fifty day simple moving average is $85.33 and its 200 day simple moving average is $69.84. 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 12 month low of $36.86 and a 12 month high of $98.58. The firm has a market capitalization of $90.99 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Newmont Company 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.