Vontobel Holding Ltd. Increases Stock Holdings in Newmont Corporation $NEM

Vontobel Holding Ltd. grew its position in shares of Newmont Corporation (NYSE:NEM) by 61.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 443,495 shares of the basic materials company’s stock after buying an additional 168,976 shares during the quarter. Vontobel Holding Ltd.’s holdings in Newmont were worth $37,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NEM. Norges Bank purchased a new stake in Newmont during the second quarter valued at about $919,170,000. Invesco Ltd. increased its position in shares of Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after buying an additional 4,839,447 shares during the period. Amundi increased its position in shares of Newmont by 2.8% during the first quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after buying an additional 343,535 shares during the period. Legal & General Group Plc lifted its holdings in shares of Newmont by 6.3% in the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after buying an additional 438,748 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in shares of Newmont by 1.7% in the first quarter. Orbis Allan Gray Ltd now owns 5,672,683 shares of the basic materials company’s stock valued at $273,877,000 after acquiring an additional 92,387 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NEM. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada increased their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Monday. Finally, Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Five 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 stock. According to MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus target price of $96.37.

Newmont Stock Performance

NYSE:NEM opened at $105.00 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $89.73 and its 200 day simple moving average is $76.56. The stock has a market cap of $114.58 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $105.73.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont 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 transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Newmont 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.