Erste Asset Management GmbH Grows Stock Position in Newmont Corporation $NEM

Key Points

• Erste Asset Management GmbH increased its holdings in Newmont Corporation by 5.0%, owning a total of 241,531 shares valued at approximately $11.6 million, according to its recent SEC filing.
• Newmont reported earnings of $1.43 per share for the last quarter, significantly exceeding analysts' estimates and achieving a 20.8% year-over-year revenue growth to $5.32 billion.
• The company announced a quarterly dividend of $0.25 per share to be paid on September 29, with a current payout ratio of 17.95% and a yield of 1.5%.

Erste Asset Management GmbH increased its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,531 shares of the basic materials company's stock after buying an additional 11,524 shares during the quarter. Erste Asset Management GmbH's holdings in Newmont were worth $11,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Venture Visionary Partners LLC acquired a new stake in shares of Newmont in the first quarter valued at about $230,000. Hsbc Holdings PLC grew its stake in Newmont by 3.8% during the 1st quarter. Hsbc Holdings PLC now owns 3,163,543 shares of the basic materials company's stock valued at $152,499,000 after purchasing an additional 117,261 shares in the last quarter. Colonial Trust Advisors grew its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. M Holdings Securities Inc. grew its stake in Newmont by 6.2% during the 1st quarter. M Holdings Securities Inc. now owns 18,601 shares of the basic materials company's stock valued at $898,000 after purchasing an additional 1,088 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Newmont by 75.7% during the 1st quarter. Wellington Management Group LLP now owns 318,247 shares of the basic materials company's stock valued at $15,365,000 after purchasing an additional 137,137 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NEM opened at $68.9470 on Thursday. The firm has a market cap of $75.73 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.80 and a beta of 0.30. The stock has a 50 day moving average of $61.92 and a 200-day moving average of $53.65. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont's payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NEM shares. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James Financial raised their price objective on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada raised their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock valued at $1,373,251 in the last quarter. Corporate insiders own 0.05% of the company's stock.

Newmont Company Profile

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.

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