Fideuram Asset Management Ireland dac Acquires New Shares in Newmont Corporation $NEM

Fideuram Asset Management Ireland dac bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, Holdings Channel.com reports. The firm bought 15,891 shares of the basic materials company’s stock, valued at approximately $1,587,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. CWM LLC increased its position 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 buying an additional 79,617 shares in the last quarter. AustralianSuper Pty Ltd increased its position 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 buying an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position 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 buying an additional 54,530 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares in the last quarter. Finally, Waverton Investment Management Ltd increased its position 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 buying an additional 23,139 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. Royal Bank Of Canada lifted their price target on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. The Goldman Sachs Group lifted their price target on shares of Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Barclays began coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price target for the company. TD Securities reissued a “hold” rating and issued a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Finally, Argus lifted their price target on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.53.

Newmont Stock Performance

Shares of NEM opened at $109.60 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a 50 day moving average price of $110.89 and a two-hundred day moving average price of $108.96. The firm has a market capitalization of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.43. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 13.49%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. This represents 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

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.