Mirae Asset Global Investments Co. Ltd. Has $11.06 Million Stock Position in Newmont Corporation $NEM

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Newmont Corporation by 3.8% in the second quarter, owning 189,848 shares valued at approximately $11.06 million.
• Newmont reported $1.43 EPS in its most recent quarter, exceeding analysts' expectations of $0.95 by $0.48, with revenue rising by 20.8% year-over-year to $5.32 billion.
• The company has announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 1.2%, with a payout ratio of 17.95%.

Mirae Asset Global Investments Co. Ltd. grew its position in Newmont Corporation (NYSE:NEM - Free Report) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 189,848 shares of the basic materials company's stock after buying an additional 6,918 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Newmont were worth $11,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after buying an additional 1,306,783 shares during the period. Northern Trust Corp grew its holdings in shares of Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock valued at $624,458,000 after buying an additional 191,940 shares during the period. Amundi grew its holdings in shares of Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after buying an additional 343,535 shares during the period. Invesco Ltd. boosted its stake in Newmont by 2.2% in the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Up 0.5%

Newmont stock opened at $86.86 on Friday. The firm has a 50-day moving average of $74.37 and a 200-day moving average of $61.17. Newmont Corporation has a one year low of $36.86 and a one year high of $87.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company has a market cap of $95.41 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business posted $0.72 EPS. The company's quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's dividend payout ratio is presently 17.95%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Newmont in a research note on Saturday, September 27th. Finally, National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.18.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by company insiders.

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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