Natixis Advisors LLC Has $11.07 Million Position in Newmont Corporation (NYSE:NEM)

Key Points

• Natixis Advisors LLC increased its position in Newmont Corporation by 61.6%, acquiring an additional 87,401 shares, bringing their total holdings to 229,209 shares worth approximately $11.07 million.
• Newmont's stock recently rose 4.5%, reaching $65.42, and the company reported a quarterly earnings per share of $1.43, significantly exceeding analyst estimates.
• Several analysts upgraded Newmont's stock ratings, with National Bank Financial raising it to a "strong-buy", reflecting a bullish outlook on the company's performance.

Natixis Advisors LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 61.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 229,209 shares of the basic materials company's stock after acquiring an additional 87,401 shares during the period. Natixis Advisors LLC's holdings in Newmont were worth $11,066,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in 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 in the last quarter. Northern Trust Corp grew its position in Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after buying an additional 1,309,177 shares in the last quarter. Invesco Ltd. grew its position in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Newmont by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock valued at $350,166,000 after buying an additional 1,331,278 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company's stock valued at $281,797,000 after buying an additional 630,031 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.58.

Newmont Stock Up 4.5%

NEM traded up $2.83 during midday trading on Monday, hitting $65.42. 9,763,123 shares of the company's stock traded hands, compared to its average volume of 13,063,871. The company has a market cap of $71.86 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The stock's fifty day simple moving average is $58.10 and its 200-day simple moving average is $51.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $66.57.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,154 shares of company stock worth $572,889. Corporate insiders own 0.05% of the company's stock.

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.