Groupama Asset Managment Purchases 18,010 Shares of Newmont Corporation $NEM

Groupama Asset Managment lifted its position in shares of Newmont Corporation (NYSE:NEM) by 23.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 94,988 shares of the basic materials company’s stock after acquiring an additional 18,010 shares during the quarter. Groupama Asset Managment’s holdings in Newmont were worth $5,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Colonial Trust Advisors lifted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares during the period. Concord Wealth Partners raised its holdings in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its position in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Dagco Inc. bought a new position in shares of Newmont during the first quarter valued at approximately $32,000. Finally, Country Trust Bank bought a new position in shares of Newmont during the second quarter valued at approximately $32,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NEM shares. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. National Bankshares reissued an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. UBS Group lifted their target price on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, BNP Paribas Exane increased their price target on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $91.20.

Newmont Trading Up 0.1%

Shares of NYSE:NEM opened at $90.65 on Friday. The business’s 50-day moving average is $86.28 and its 200 day moving average is $71.08. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The firm has a market capitalization of $98.93 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is presently 15.53%.

Newmont Company Profile

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.