DNB Asset Management AS Has $24.61 Million Stake in Newmont Corporation $NEM

DNB Asset Management AS lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,429 shares of the basic materials company’s stock after purchasing an additional 10,376 shares during the period. DNB Asset Management AS’s holdings in Newmont were worth $24,606,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after buying an additional 637,996 shares during the period. Legal & General Group Plc lifted its holdings in Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after buying an additional 711,940 shares during the period. Boston Partners lifted its holdings in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Newmont by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock valued at $498,928,000 after buying an additional 692,560 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Newmont by 33.8% in the third quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock valued at $414,270,000 after buying an additional 1,244,845 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. Jefferies Financial Group increased their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 10th. Stifel Nicolaus increased their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce cut their price objective on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $142.51.

Newmont Stock Down 6.4%

Shares of NEM stock opened at $108.93 on Friday. The firm has a fifty day moving average of $111.96 and a 200-day moving average of $107.04. 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 12-month low of $48.61 and a 12-month high of $134.88. The company has a market capitalization of $116.29 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43.

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

Newmont Announces Dividend

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

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.