Aware Super Pty Ltd as trustee of Aware Super Makes New $42.41 Million Investment in Newmont Corporation $NEM

Key Points

• Aware Super acquired 367,679 Newmont shares worth approximately $42.4 million in the third quarter, while institutional investors collectively own 68.85% of the company.
• Newmont exceeded quarterly expectations, reporting $2.20 in EPS on $6.36 billion in revenue, with revenue increasing 15.2% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $137.20 price target; Newmont also declared a quarterly dividend of $0.26 per share.

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 367,679 shares of the basic materials company's stock, valued at approximately $42,408,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hourglass Capital LLC bought a new position in shares of Newmont during the 3rd quarter valued at $13,066,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in Newmont in the third quarter worth $814,000. Northwestern Mutual Wealth Management Co. bought a new stake in Newmont in the second quarter worth $36,180,000. Fifth Third Wealth Advisors LLC bought a new stake in Newmont in the third quarter worth $1,769,000. Finally, Asset One Wealth Management LLC acquired a new position in Newmont during the second quarter worth $2,866,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. This represents a 8.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 32,973 shares of company stock worth $3,646,819. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings upgraded Newmont from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Sanford C. Bernstein upped their price target on Newmont from $144.00 to $150.00 in a research note on Friday, October 16th. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Freedom Broker lowered Newmont from a "buy" rating to a "hold" rating and lowered their price objective for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Finally, Citigroup raised their price objective on Newmont from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.20.

Newmont Stock Performance

NYSE:NEM opened at $109.03 on Tuesday. The firm has a market capitalization of $113.31 billion, a PE ratio of 11.72, a PEG ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 1 year low of $78.60 and a 1 year high of $135.29. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm's fifty day simple moving average is $120.16 and its 200 day simple moving average is $112.46.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is currently 12.09%.

Newmont Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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