ASR Vermogensbeheer N.V. Invests $7.96 Million in Newmont Corporation (NYSE:NEM)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $7.96 million in Newmont Corporation, acquiring 164,867 shares during the first quarter.
• Various institutional investors have increased their holdings in Newmont, with significant stakes raised by SOA Wealth Advisors and Private Trust Co., contributing to institutional ownership of 68.85%.
• Newmont reported a strong quarterly earnings performance with $1.43 earnings per share, surpassing analyst expectations and marking a 20.8% revenue increase year-over-year.

ASR Vermogensbeheer N.V. acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 164,867 shares of the basic materials company's stock, valued at approximately $7,959,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter worth $26,000. Private Trust Co. NA raised its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares in the last quarter. Nexus Investment Management ULC acquired a new position in shares of Newmont in the 1st quarter worth $31,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Newmont in the 1st quarter worth $32,000. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the sale, the director owned 41,026 shares of the company's stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,231 shares of company stock valued at $896,091 in the last ninety days. Insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NEM shares. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Finally, Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Price Performance

NEM opened at $67.98 on Thursday. The stock has a market cap of $74.67 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.82 and a beta of 0.30. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $68.44. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $58.92 and a 200 day moving average price of $51.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business's revenue for the quarter was up 20.8% on a year-over-year basis. 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 will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's payout ratio is currently 17.95%.

About Newmont

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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