Amundi Acquires 372,415 Shares of Newmont Corporation $NEM

Amundi increased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,780,775 shares of the basic materials company's stock after acquiring an additional 372,415 shares during the period. Amundi owned about 0.82% of Newmont worth $950,519,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in Newmont during the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the 1st quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new position in Newmont during the third quarter worth about $27,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $91.54 on Wednesday. Newmont Corporation has a twelve month low of $61.76 and a twelve month high of $134.88. The firm has a market capitalization of $96.45 billion, a PE ratio of 11.56, a P/E/G ratio of 1.11 and a beta of 0.46. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $99.34 and a two-hundred day moving average price of $109.76.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the business posted $1.43 earnings per share. Equities analysts forecast that Newmont Corporation will post 8.92 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont's dividend payout ratio is presently 13.13%.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Argus increased their price objective on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada reduced their target price on Newmont from $140.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Raymond James Financial decreased their price target on Newmont from $139.00 to $137.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Finally, Bank of America reduced their price objective on Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $132.83.

Insiders Place Their Bets

In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by corporate 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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