Mn Services Vermogensbeheer B.V. Acquires 318,217 Shares of Newmont Corporation $NEM

Key Points

• Mn Services Vermogensbeheer acquired 318,217 Newmont shares worth approximately $36.7 million, while institutional investors collectively own 68.85% of the company.
• Analysts maintain a generally positive outlook, with Newmont receiving a “Moderate Buy” consensus rating and an average price target of $134.26.
• Newmont reported quarterly EPS of $2.10, exceeding estimates, and pays a quarterly dividend of $0.26 per share. However, company insiders sold 35,973 shares worth about $3.9 million over the past 90 days.

Mn Services Vermogensbeheer B.V. bought a new position in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 318,217 shares of the basic materials company's stock, valued at approximately $36,703,000.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. BlackRock Inc. purchased a new position in Newmont during the 2nd quarter worth $11,289,753,000. State Street Corp raised its holdings in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock worth $4,988,491,000 after purchasing an additional 480,223 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Newmont by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock valued at $1,324,757,000 after acquiring an additional 615,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock valued at $1,012,792,000 after acquiring an additional 184,586 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Argus set a $110.00 price target on Newmont in a research report on Monday, August 3rd. National Bank Financial increased their price target on Newmont from $120.00 to $140.00 and gave the company a "sector perform" rating in a research note on Monday, September 21st. Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a research note on Friday, August 14th. BMO Capital Markets increased their price objective on shares of Newmont from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, September 29th. Finally, UBS Group dropped their target price on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.26.

Newmont Trading Up 1.7%

Shares of NYSE:NEM opened at $115.46 on Friday. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.58 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $120.34 and a 200-day moving average price of $110.23.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Equities analysts predict that Newmont Corporation will post 9.1 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont's payout ratio is presently 13.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,973 shares of company stock valued at $3,927,169 in the last ninety days. Insiders own 0.06% of the company's stock.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

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