BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $54.97 Million Holdings in Newmont Corporation $NEM

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has reduced its holdings in Newmont Corporation by 4.9%, owning 1,138,576 shares after selling 59,280 shares, valuing its stake at approximately $54.97 million.
• Newmont recently reported a quarterly earnings of $1.43 per share, significantly exceeding analyst estimates, and announced a $0.25 per share dividend set to be paid on September 29th.
• Institutional investors collectively own 68.85% of Newmont's stock, with varying changes in their stakes during the first quarter, indicating mixed confidence among major investors in the company.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,138,576 shares of the basic materials company's stock after selling 59,280 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.10% of Newmont worth $54,970,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NEM. SOA Wealth Advisors LLC. boosted its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in Newmont during the 1st quarter valued at about $26,000. Private Trust Co. NA boosted its stake in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the period. Nexus Investment Management ULC acquired a new position in Newmont during the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management acquired a new position in Newmont during the 1st quarter valued at about $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.5710 during trading on Friday, reaching $70.6610. The company had a trading volume of 6,575,223 shares, compared to its average volume of 11,801,958. The firm's fifty day moving average is $62.21 and its 200 day moving average is $53.83. The firm has a market capitalization of $77.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $71.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

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 for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is presently 17.95%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the sale, the director owned 41,026 shares in the company, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock worth $1,373,251 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEM. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Argus set a $63.00 target price on shares of Newmont in a research note on Friday, April 25th. Stifel Nicolaus began coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. Scotiabank boosted their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

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.