IFM Investors Pty Ltd Purchases 22,326 Shares of Newmont Corporation (NYSE:NEM)

IFM Investors Pty Ltd grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,626 shares of the basic materials company's stock after purchasing an additional 22,326 shares during the quarter. IFM Investors Pty Ltd's holdings in Newmont were worth $12,594,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Newmont during the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $92,693,000. Capital Research Global Investors increased its holdings in shares of Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $76,281,000. Finally, Invesco Ltd. increased its holdings in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM traded down $0.20 during trading on Friday, reaching $59.86. 5,387,327 shares of the company traded hands, compared to its average volume of 10,603,525. The company's 50 day moving average is $54.67 and its two-hundred day moving average is $48.25. The firm has a market capitalization of $66.62 billion, a PE ratio of 13.42, a PEG ratio of 0.79 and a beta of 0.33. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. UBS Group upped their price objective on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.11.

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.