Mn Services Vermogensbeheer B.V. Acquires New Shares in Newmont Corporation $NEM

Mn Services Vermogensbeheer B.V. acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel reports. The institutional investor acquired 318,217 shares of the basic materials company’s stock, valued at approximately $36,703,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Newmont during the second quarter worth $11,289,753,000. State Street Corp grew its position in Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after buying an additional 1,565,716 shares during the period. Van ECK Associates Corp purchased a new position in Newmont in the second quarter valued at $671,197,000. Bank of New York Mellon Corp purchased a new position in Newmont in the second quarter valued at $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new position in shares of Newmont in the second quarter worth about $241,820,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. 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 sold 35,973 shares of company stock valued at $3,927,169 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NEM shares. Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Argus set a $110.00 price target on Newmont in a report on Monday, August 3rd. Sanford C. Bernstein lowered their price target on Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Finally, The Goldman Sachs Group dropped their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $134.26.

Newmont Stock Up 1.7%

Shares of NYSE NEM opened at $115.46 on Friday. The firm has a market cap of $121.66 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The company’s 50-day simple moving average is $120.34 and its 200-day simple moving average is $110.23. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities analysts predict that Newmont Corporation will post 9.1 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is presently 13.13%.

Newmont Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.