10,404 Shares in Newmont Corporation $NEM Purchased by University of Texas Texas AM Investment Management Co.

Key Points

• University of Texas Texas AM Investment Management Co. opened a new position in Newmont, buying 10,404 shares valued at about $1.04 million in the fourth quarter.
• Newmont reported strong quarterly results, with earnings of $2.90 per share versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average target price of $141.79.

University of Texas Texas AM Investment Management Co. bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,404 shares of the basic materials company's stock, valued at approximately $1,039,000.

A number of other institutional investors have also recently bought and sold shares of NEM. Norges Bank bought a new position in shares of Newmont during the fourth quarter worth approximately $1,443,128,000. Van ECK Associates Corp boosted its holdings in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Newmont by 110.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock valued at $873,011,000 after buying an additional 4,588,018 shares in the last quarter. Assetmark Inc. raised its stake in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock worth $286,619,000 after acquiring an additional 2,294,396 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock worth $585,828,000 after acquiring an additional 2,288,653 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 5.5%

Shares of NYSE NEM opened at $105.77 on Tuesday. The firm has a 50 day moving average price of $110.78 and a two-hundred day moving average price of $110.28. The stock has a market cap of $112.91 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid 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 1.0%. Newmont's dividend payout ratio is presently 13.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Weiss Ratings cut shares of Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. National Bank Financial upped their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. The Goldman Sachs Group dropped their price target on Newmont from $125.10 to $122.50 and set a "buy" rating for the company in a research note on Thursday, June 4th. Finally, Argus raised their price objective on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $141.79.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business'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 transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,556 shares of company stock valued at $3,444,276 over the last three months. 0.06% of the stock is owned by insiders.

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.

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