44,622 Shares in Newmont Corporation $NEM Purchased by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 44,622 shares of Newmont Corporation valued at approximately $2.35 million during the first quarter, indicating growing institutional interest in the company.
• Newmont reported an estimated $1.43 EPS for the last quarter, exceeding analysts' expectations, with revenue increasing 20.8% year-over-year, totaling $5.32 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annual yield of 1.3%, scheduled for payment on September 29th.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,622 shares of the basic materials company's stock, valued at approximately $2,352,000.

A number of other large investors have also modified their holdings of the business. Hemington Wealth Management grew its stake in shares of Newmont by 25.2% during the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after acquiring an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. grew its stake in shares of Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares during the period. Finally, Twin Capital Management Inc. lifted its holdings in shares of Newmont by 0.7% during the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NEM shares. National Bankshares raised Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised Newmont from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $67.38.

Newmont Price Performance

Shares of NEM stock traded up $0.15 during trading hours on Monday, hitting $79.40. 12,126,511 shares of the company's stock were exchanged, compared to its average volume of 8,585,552. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $87.22 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.95 and a beta of 0.33. The firm has a 50 day moving average of $67.84 and a two-hundred day moving average of $57.51. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $80.07.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is presently 17.95%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by corporate insiders.

Newmont 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.