DJE Kapital AG Has $155.09 Million Stake in Newmont Corporation $NEM

Key Points

• DJE Kapital AG increased its Newmont stake by 55.6% in the fourth quarter, buying 553,019 additional shares and bringing its total holding to 1,547,453 shares worth about $155.1 million.
• Newmont reported strong quarterly results, with EPS of $2.90 versus expectations of $2.07 and revenue of $7.31 billion, while revenue rose 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, and analysts currently rate the stock Moderate Buy with an average price target of $142.26.

DJE Kapital AG boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 55.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,547,453 shares of the basic materials company's stock after buying an additional 553,019 shares during the period. Newmont makes up about 4.3% of DJE Kapital AG's investment portfolio, making the stock its 5th largest holding. DJE Kapital AG owned 0.14% of Newmont worth $155,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after buying an additional 637,996 shares in the last quarter. Geode Capital Management LLC increased its position in Newmont by 3.6% during the 4th 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 in the last quarter. Norges Bank bought a new position in Newmont during the 4th quarter valued at approximately $1,443,128,000. Bank of New York Mellon Corp increased its position in Newmont by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company's stock valued at $1,160,505,000 after buying an additional 725,012 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Newmont by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after buying an additional 711,940 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 5.1%

Newmont stock opened at $97.52 on Friday. The firm has a market cap of $104.11 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.42. The stock has a fifty day simple moving average of $111.21 and a two-hundred day simple moving average of $110.05. Newmont Corporation has a 12 month low of $54.14 and a 12 month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company's quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. Equities analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Insider Buying and Selling

In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company's stock, valued at $15,060,654.68. The trade was a 2.64% 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. Insiders have sold a total of 49,950 shares of company stock valued at $5,494,288 over the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. National Bank Financial raised their price objective on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a research report on Friday, March 20th. UBS Group reduced their price objective on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, March 27th. BMO Capital Markets lifted their target price on Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada reduced their target price on Newmont from $160.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.26.

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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