B. Metzler seel. Sohn & Co. AG Makes New $10.52 Million Investment in Newmont Corporation $NEM

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 112,658 Newmont shares worth approximately $10.52 million in the second quarter. Institutional investors collectively own 68.85% of Newmont.
• Newmont insiders sold 32,091 shares worth about $3.29 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus, with an average price target of $132.59.
• Newmont reported quarterly EPS of $2.10, topping estimates of $2.05, while revenue reached $6.12 billion. The company declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% annualized yield.

B. Metzler seel. Sohn & Co. AG purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 112,658 shares of the basic materials company's stock, valued at approximately $10,522,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Vanguard Group Inc. lifted its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. BlackRock Inc. bought a new position in Newmont during the 2nd quarter worth $11,289,753,000. State Street Corp increased its position in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock worth $4,988,491,000 after buying an additional 480,223 shares during the period. Van ECK Associates Corp increased its position in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock valued at $2,738,756,000 after buying an additional 946,824 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the transaction, the executive vice president directly owned 40,315 shares of the company's stock, valued at $3,767,436.75. This represents a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEM shares. UBS Group cut their price objective on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. TD Securities upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. BNP Paribas Exane cut their price target on Newmont from $111.00 to $102.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. Finally, Canaccord Genuity Group reduced their price objective on Newmont from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $132.59.

Newmont Trading Up 2.2%

Shares of NYSE:NEM opened at $127.86 on Friday. The company has a 50 day moving average of $100.96 and a 200-day moving average of $108.80. The firm has a market cap of $134.72 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.29 and a beta of 0.47. Newmont Corporation has a twelve month low of $68.90 and a twelve month high of $134.88. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same period last year, the firm posted $1.43 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio (DPR) is presently 13.13%.

Newmont Company Profile

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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