Carmignac Gestion Lowers Holdings in Newmont Corporation $NEM

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion reduced its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 40.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 474,863 shares of the basic materials company's stock after selling 323,991 shares during the period. Carmignac Gestion's holdings in Newmont were worth $22,926,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after acquiring an additional 1,306,783 shares during the period. Northern Trust Corp grew its position in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock valued at $624,458,000 after purchasing an additional 191,940 shares during the last quarter. Invesco Ltd. grew its position in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after purchasing an additional 228,116 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Newmont by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock valued at $350,166,000 after purchasing an additional 1,331,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE:NEM traded up $0.5710 on Friday, hitting $70.6610. The stock had a trading volume of 6,575,987 shares, compared to its average volume of 11,801,996. The stock has a market cap of $77.62 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $62.21 and its two-hundred day simple moving average is $53.83. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $71.10.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. As a group, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced 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. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. Royal Bank Of Canada increased their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. Finally, Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company'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 approximately $2,611,715.16. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,246 shares of company stock valued at $1,373,251. Insiders own 0.05% of the company's stock.

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.