4,777 Shares in Newmont Corporation $NEM Purchased by OLD National Bancorp IN

OLD National Bancorp IN acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,777 shares of the basic materials company's stock, valued at approximately $278,000.

Several other large investors have also made changes to their positions in NEM. Nuveen LLC acquired a new position in shares of Newmont during the 1st quarter worth about $306,507,000. Pacer Advisors Inc. grew its holdings in shares of Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after purchasing an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company's stock valued at $273,391,000 after purchasing an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after purchasing an additional 2,206,017 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company's stock worth $92,119,000 after purchasing an additional 1,506,010 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BNP Paribas downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Scotiabank lifted their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. BNP Paribas Exane lifted their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Finally, Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

Newmont Trading Down 1.7%

NEM stock opened at $87.03 on Wednesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $89.37. The firm has a market cap of $95.59 billion, a P/E ratio of 15.62, a P/E/G ratio of 0.99 and a beta of 0.34. The business's 50 day moving average is $75.33 and its 200-day moving average is $61.73. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend payout ratio is 17.95%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last three months. Insiders own 0.05% of the company's stock.

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.

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