Shell Asset Management Co. Has $12.56 Million Holdings in Newmont Corporation $NEM

Shell Asset Management Co. grew its position in Newmont Corporation (NYSE:NEM) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,515 shares of the basic materials company’s stock after buying an additional 2,868 shares during the quarter. Shell Asset Management Co.’s holdings in Newmont were worth $12,556,000 as of its most recent SEC filing.

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

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

NEM opened at $88.60 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm’s fifty day moving average price is $74.87 and its two-hundred day moving average price is $61.56. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $89.37. The company has a market capitalization of $97.32 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate 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 net margin of 30.50% and a return on equity of 17.86%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts anticipate 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 was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s payout ratio is 17.95%.

Analysts Set New Price Targets

A number of research firms have weighed in on NEM. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. CIBC lifted their target price on shares of Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. UBS Group upped their price target on shares of Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price target on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

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.