Amundi Purchases 343,535 Shares of Newmont Corporation $NEM

Key Points

• Amundi increased its stake in Newmont Corporation by 2.8% in the first quarter, owning approximately 12.6 million shares valued at $611.19 million.
• Several institutional investors have also increased their holdings in Newmont, with 68.85% of the company now owned by such investors and hedge funds.
• Newmont reported an earnings per share (EPS) of $1.43 for the last quarter, significantly exceeding analysts' expectations and showing a revenue increase of 20.8% year-over-year.

Amundi increased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,646,114 shares of the basic materials company's stock after acquiring an additional 343,535 shares during the period. Amundi owned about 1.14% of Newmont worth $611,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Nuveen LLC acquired a new stake in shares of Newmont in the 1st quarter worth about $306,507,000. Pacer Advisors Inc. raised its holdings in shares of Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after acquiring an additional 5,251,616 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the 4th quarter worth about $92,693,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Newmont by 1,074.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock worth $116,416,000 after acquiring an additional 2,206,017 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Newmont in the 4th quarter worth about $75,435,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,246 shares of company stock worth $1,253,559. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NEM shares. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday. UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Scotiabank upped their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.15.

Newmont Stock Performance

Shares of NEM stock traded up $1.26 during trading hours on Friday, hitting $76.14. 8,676,401 shares of the company were exchanged, compared to its average volume of 7,931,247. The firm has a fifty day simple moving average of $65.61 and a 200 day simple moving average of $55.94. 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 Corporation has a 52-week low of $36.86 and a 52-week high of $77.30. The stock has a market capitalization of $83.64 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.90 and a beta of 0.34.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is currently 17.95%.

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.