Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $21.89 Million Position in Newmont Corporation $NEM

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Newmont during the fourth quarter, buying 219,263 shares valued at about $21.89 million. The stake represents roughly 0.8% of its portfolio and is its 26th largest holding.
• Several other institutional investors also boosted their Newmont holdings, and overall institutions and hedge funds own 68.85% of the company’s stock. Meanwhile, insiders have been selling shares, including recent sales by David John Thornton and David James Fry.
• Newmont reported strong quarterly results, beating analyst expectations with EPS of $2.90 and revenue of $7.31 billion, while also announcing a quarterly dividend of $0.26 per share. Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average target price of $142.51.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 219,263 shares of the basic materials company's stock, valued at approximately $21,893,000. Newmont accounts for approximately 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.'s investment portfolio, making the stock its 26th largest position.

A number of other large investors also recently made changes to their positions in NEM. Brighton Jones LLC increased its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP increased its holdings in Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Newmont in the second quarter worth approximately $240,000. Cerity Partners LLC increased its holdings in Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after buying an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In other Newmont news, insider David John Thornton sold 2,296 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction 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. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares of the company's stock, valued at $1,911,033.15. The trade was a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,068 shares of company stock worth $4,769,475 over the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont Stock Down 4.5%

Shares of Newmont stock opened at $104.94 on Wednesday. The stock has a market capitalization of $112.03 billion, a P/E ratio of 13.61, a PEG ratio of 1.57 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $111.60 and a two-hundred day moving average price of $107.63. Newmont Corporation has a 12-month low of $50.79 and a 12-month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company's revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Equities analysts expect that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont's dividend payout ratio is presently 13.49%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Stifel Nicolaus increased their price objective on Newmont from $120.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. BNP Paribas Exane increased their price objective on Newmont from $123.00 to $128.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Finally, TD increased their price objective on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.51.

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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