342,367 Shares in Newmont Corporation $NEM Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

Key Points

• United Super Pty Ltd opened a new position in Newmont, buying 342,367 shares worth about $34.2 million in the fourth quarter.
• Newmont recently reported strong quarterly results, with earnings of $2.90 per share versus expectations of $2.07 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 an average rating of “Moderate Buy” and an average price target of $141.53.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 342,367 shares of the basic materials company's stock, valued at approximately $34,185,000.

Several other hedge funds and other institutional investors have also modified their holdings of NEM. CWM LLC grew its stake in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock worth $20,259,000 after purchasing an additional 79,617 shares during the period. AustralianSuper Pty Ltd grew its holdings in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock worth $27,843,000 after purchasing an additional 183,360 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock worth $30,775,000 after purchasing an additional 54,530 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company's stock worth $5,101,000 after purchasing an additional 44,846 shares during the period. Finally, Waverton Investment Management Ltd grew its holdings in Newmont by 3.4% in the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock worth $59,365,000 after purchasing an additional 23,139 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. 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, insider David James Fry sold 18,394 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 in the last three months. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on NEM. UBS Group reduced their price target on shares of Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, March 27th. BMO Capital Markets raised their price target on shares of Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. BNP Paribas Exane raised their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Barclays assumed coverage on shares of Newmont in a report on Thursday, May 21st. They set an "overweight" rating and a $133.00 price objective for the company. Finally, Citigroup lifted their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $141.53.

Newmont Stock Up 1.0%

NEM stock opened at $108.32 on Friday. Newmont Corporation has a twelve month low of $51.80 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $110.82 and its 200-day moving average is $108.95. The firm has a market capitalization of $115.64 billion, a PE ratio of 14.05 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company's revenue for the quarter was up 45.8% on a year-over-year basis. Sell-side analysts expect that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's payout ratio is 13.49%.

Newmont Company 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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