Newmont Corporation $NEM Position Raised by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its holdings in Newmont Corporation by 3.2%, owning 220,189 shares valued at approximately $12.83 million as of its latest SEC filing.
• Several hedge funds significantly raised their positions in Newmont this year, with 68.85% of the stock owned by institutional investors, reflecting a strong interest in the company.
• Newmont announced a quarterly dividend of $0.25, representing an annual dividend yield of 1.2%, and plans to pay shareholders on September 29th.

IFM Investors Pty Ltd raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,189 shares of the basic materials company's stock after acquiring an additional 6,889 shares during the period. IFM Investors Pty Ltd's holdings in Newmont were worth $12,828,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NEM. Moody National Bank Trust Division boosted its position in shares of Newmont by 1.5% in the 2nd quarter. Moody National Bank Trust Division now owns 26,540 shares of the basic materials company's stock worth $1,546,000 after purchasing an additional 386 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Newmont by 109.4% in the second quarter. Exchange Traded Concepts LLC now owns 139,284 shares of the basic materials company's stock valued at $8,115,000 after buying an additional 72,765 shares during the period. Fulton Bank N.A. lifted its stake in Newmont by 52.3% during the second quarter. Fulton Bank N.A. now owns 16,603 shares of the basic materials company's stock worth $967,000 after purchasing an additional 5,699 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Newmont by 11.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 212,357 shares of the basic materials company's stock valued at $12,720,000 after acquiring an additional 22,288 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in Newmont by 376.3% in the second quarter. Wedmont Private Capital now owns 55,312 shares of the basic materials company's stock valued at $3,250,000 after purchasing an additional 43,699 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the transaction, the director directly owned 38,949 shares in the company, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

Shares of NYSE:NEM traded up $1.37 during midday trading on Tuesday, hitting $85.09. The company's stock had a trading volume of 5,085,922 shares, compared to its average volume of 11,756,300. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The business's 50 day simple moving average is $69.93 and its 200 day simple moving average is $58.80. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $86.62. The company has a market cap of $93.47 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.96 and a beta of 0.33.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont's dividend payout ratio is 17.95%.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. BNP Paribas Exane increased their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank boosted their price target on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Newmont in a report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $72.31.

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.