Westpac Banking Corp Acquires 40,852 Shares of Newmont Corporation $NEM

Westpac Banking Corp lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 105.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,665 shares of the basic materials company’s stock after acquiring an additional 40,852 shares during the quarter. Westpac Banking Corp’s holdings in Newmont were worth $7,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its stake in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares during the period. AustralianSuper Pty Ltd boosted its stake in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the period. Waverton Investment Management Ltd boosted its stake in Newmont by 3.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after purchasing an additional 23,139 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Newmont by 65.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 741,861 shares of the basic materials company’s stock valued at $62,546,000 after purchasing an additional 293,901 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NEM shares. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. UBS Group cut their target price on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. TD upped their target price on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, TD Securities reiterated a “hold” rating and set a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.48.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the transaction, the executive vice president owned 49,315 shares in the company, valued at $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $109.45 on Wednesday. The stock has a fifty day moving average price of $111.08 and a 200-day moving average price of $109.23. The company has a market cap of $116.84 billion, a price-to-earnings ratio of 14.20 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a fifty-two week low of $52.08 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, equities analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

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.