UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases Shares of 8,289,435 Newmont Corporation $NEM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,289,435 shares of the basic materials company’s stock, valued at approximately $173,249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.79% of Newmont at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter worth $11,289,753,000. State Street Corp grew its holdings in Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Newmont during the 2nd quarter valued at $671,197,000. Geode Capital Management LLC increased its stake in Newmont by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank purchased a new stake in Newmont during the 4th quarter worth $1,443,128,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Scotiabank boosted their price target on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Macquarie Infrastructure decreased their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Barclays cut their price target on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $140.00 price objective on shares of Newmont in a research report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,209 shares of company stock valued at $2,567,701 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $122.56 on Wednesday. The company has a market capitalization of $129.14 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a fifty day moving average of $105.20 and a 200-day moving average of $109.51. Newmont Corporation has a one year low of $73.44 and a one year high of $135.29.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (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 company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal 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 given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

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.