Allspring Global Investments Holdings LLC Acquires 224,966 Shares of Newmont Corporation (NYSE:NEM)

Allspring Global Investments Holdings LLC increased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 38.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 807,026 shares of the basic materials company's stock after acquiring an additional 224,966 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Newmont worth $38,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Norges Bank bought a new position in shares of Newmont during the fourth quarter worth $626,074,000. Voloridge Investment Management LLC bought a new position in shares of Newmont during the fourth quarter worth $92,693,000. Capital Research Global Investors boosted its position in shares of Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Newmont during the fourth quarter worth $76,281,000. Finally, Invesco Ltd. boosted its position in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 1.0%

Shares of NEM traded up $0.56 during midday trading on Tuesday, hitting $58.82. The stock had a trading volume of 10,555,081 shares, compared to its average volume of 10,567,344. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The firm has a market cap of $65.47 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.75 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The stock's 50 day moving average is $54.24 and its 200 day moving average is $47.74.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the transaction, the director directly owned 45,180 shares in the company, valued at $2,443,786.20. This represents a 4.40% decrease in their position. The sale 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 dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NEM shares. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada increased their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $58.38.

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.