Euro Pacific Asset Management LLC Has $26.78 Million Position in Newmont Corporation $NEM

Euro Pacific Asset Management LLC grew its holdings in Newmont Corporation (NYSE:NEM) by 19.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 459,651 shares of the basic materials company’s stock after acquiring an additional 74,843 shares during the period. Newmont comprises approximately 4.4% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $26,779,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after purchasing an additional 191,940 shares during the period. Amundi increased its position in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Invesco Ltd. increased its position in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after buying an additional 1,201,237 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM opened at $86.86 on Monday. The firm’s 50 day simple moving average is $74.37 and its 200-day simple moving average is $61.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a one year low of $36.86 and a one year high of $87.93. The firm has a market cap of $95.41 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. Raymond James Financial lifted their price target on shares of Newmont from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group increased their price objective on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, UBS Group upped their target price on Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last three months. 0.05% of the stock is owned by corporate insiders.

About Newmont

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.