Newmont Corporation $NEM Shares Bought by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions increased its Newmont stake by 150.4% in the fourth quarter, buying 41,711 additional shares and bringing its total holdings to 69,438 shares valued at about $6.9 million.
• Several other large institutional investors also raised their positions, and hedge funds now own 68.85% of Newmont’s stock.
• Newmont reported strong quarterly results, with EPS of $2.90 and revenue of $7.31 billion, both beating estimates; the company also pays a quarterly dividend of $0.26 per share.

ABN Amro Investment Solutions boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 150.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,438 shares of the basic materials company's stock after buying an additional 41,711 shares during the period. ABN Amro Investment Solutions' holdings in Newmont were worth $6,933,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after purchasing an additional 711,940 shares during the last quarter. Boston Partners lifted its stake in shares of Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Newmont by 16.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company's stock valued at $498,928,000 after purchasing an additional 692,560 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Newmont by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company's stock valued at $414,270,000 after purchasing an additional 1,244,845 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. Argus upped their price target on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, February 3rd. Wall Street Zen raised Newmont from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Finally, Scotiabank decreased their target price on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $142.05.

Newmont Price Performance

NEM opened at $108.43 on Friday. The stock's 50-day moving average price is $111.20 and its 200 day moving average price is $108.01. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The firm has a market cap of $115.75 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.53 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm's quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is 13.49%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president owned 49,315 shares in the company, valued at $5,430,074.65. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by corporate insiders.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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