Banque Transatlantique SA Boosts Stake in Newmont Corporation $NEM

Key Points

• Banque Transatlantique SA increased its stake in Newmont Corporation by 586.2%, acquiring a total of 22,440 shares valued at approximately $1 million.
• Newmont reported earnings of $1.43 per share for the last quarter, significantly surpassing analyst estimates of $0.95 and marking a 20.8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 1.3%, with the payout ratio currently at 17.95%.

Banque Transatlantique SA raised its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 586.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,440 shares of the basic materials company's stock after acquiring an additional 19,170 shares during the period. Banque Transatlantique SA's holdings in Newmont were worth $1,001,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in Newmont by 2,054.6% in the first quarter. AQR Capital Management LLC now owns 921,929 shares of the basic materials company's stock worth $44,382,000 after purchasing an additional 879,140 shares during the last quarter. Atalanta Sosnoff Capital LLC purchased a new stake in Newmont during the 1st quarter valued at about $200,000. Advisors Asset Management Inc. grew its position in Newmont by 33.0% during the 1st quarter. Advisors Asset Management Inc. now owns 96,161 shares of the basic materials company's stock worth $4,643,000 after acquiring an additional 23,861 shares during the last quarter. AlTi Global Inc. purchased a new position in Newmont in the 1st quarter worth approximately $800,000. Finally, Amundi lifted its position in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the sale, the director owned 38,949 shares in the company, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,246 shares of company stock valued at $1,253,559. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. 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 set a "buy" rating and a $73.00 price objective for the company. The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus price target of $65.15.

Newmont Stock Down 0.4%

Shares of NEM traded down $0.33 on Monday, reaching $75.84. The stock had a trading volume of 10,094,042 shares, compared to its average volume of 11,663,139. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $77.30. The firm has a market capitalization of $83.30 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.92 and a beta of 0.33. The company has a 50-day simple moving average of $65.61 and a 200-day simple moving average of $56.06.

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 the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Newmont's quarterly revenue was up 20.8% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

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.