Amundi Acquires New Position in Newmont Corporation $NEM

Amundi purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,019,650 shares of the basic materials company's stock, valued at approximately $209,411,000. Amundi owned 0.95% of Newmont at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in Newmont in the 2nd quarter valued at about $17,316,000. Groupe la Francaise grew its stake in Newmont by 19.8% in the 2nd quarter. Groupe la Francaise now owns 537,747 shares of the basic materials company's stock worth $50,260,000 after acquiring an additional 88,887 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Newmont in the 2nd quarter valued at $44,105,000. First Eagle Investment Management LLC acquired a new position in Newmont in the 2nd quarter valued at $241,820,000. Finally, California State Teachers Retirement System lifted its stake in shares of Newmont by 9,010.9% during the 2nd quarter. California State Teachers Retirement System now owns 155,311,124 shares of the basic materials company's stock worth $14,506,059,000 after purchasing an additional 153,606,457 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $369,000.00. Following the completion of the sale, the executive vice president owned 37,315 shares of the company's stock, valued at $4,589,745. This represents a 7.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the transaction, the chief executive officer directly owned 131,353 shares of the company's stock, valued at $16,156,419. This trade represents a 2.87% 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. Insiders sold a total of 32,091 shares of company stock worth $3,414,187 over the last 90 days. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lowered their price objective on Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Jefferies Financial Group decreased their price target on Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Scotiabank lifted their price target on Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. BMO Capital Markets decreased their target price on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $132.73.

Newmont Price Performance

NEM stock opened at $127.28 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 1 year low of $75.45 and a 1 year high of $135.29. The firm has a market cap of $134.11 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.80 and a beta of 0.52. The stock has a 50-day simple moving average of $108.53 and a 200-day simple moving average of $109.67.

Newmont (NYSE:NEM - Get Free Report) last announced its 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 business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, equities analysts predict that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont's payout ratio is presently 13.13%.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.

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