AustralianSuper Pty Ltd Acquires 95,574 Shares of Newmont Corporation $NEM

Key Points

• AustralianSuper Pty Ltd boosted its Newmont stake by 28.9% in Q4, buying 95,574 shares and bringing its total holding to 425,824 shares valued at about $42.5 million.
• Newmont reported strong quarterly results, including EPS of $2.90 versus estimates of $2.07 and revenue of $7.31 billion, up 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, while analysts remain broadly positive with an average rating of Moderate Buy and an average price target of $142.51.

AustralianSuper Pty Ltd increased its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 28.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 425,824 shares of the basic materials company's stock after acquiring an additional 95,574 shares during the quarter. AustralianSuper Pty Ltd's holdings in Newmont were worth $42,519,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth $25,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 206 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $30,000. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Newmont by 308.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock worth $31,000 after buying an additional 231 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM opened at $116.32 on Friday. The stock has a market capitalization of $124.18 billion, a PE ratio of 15.09, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business has a fifty day moving average price of $112.16 and a two-hundred day moving average price of $107.03. Newmont Corporation has a fifty-two week low of $48.40 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm posted $1.25 EPS. Newmont's quarterly revenue was up 45.8% on a year-over-year basis. As a group, equities analysts predict that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. National Bank Financial upped their target price on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Argus lifted their price target on Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Canaccord Genuity Group boosted their price target on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. BNP Paribas Exane upped their price objective on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Bank of America increased their price objective on Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.51.

Insider Activity

In other news, EVP Peter Wexler sold 13,378 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,068 shares of company stock valued at $4,769,475 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

About Newmont

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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