Newmont Corporation $NEM Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP increased its Newmont stake by 15.1% in the fourth quarter, adding 119,905 shares to bring its total to 913,848 shares valued at about $91.2 million.
• Newmont recently reported strong quarterly results, with EPS of $2.90 beating estimates and revenue of $7.31 billion topping expectations; revenue rose 45.8% year over year.
• The company also declared a quarterly dividend of $0.26 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $142.26.

Korea Investment CORP grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913,848 shares of the basic materials company's stock after acquiring an additional 119,905 shares during the quarter. Korea Investment CORP owned about 0.08% of Newmont worth $91,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Apella Capital LLC raised its position in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC raised its position in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group raised its position in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC raised its position in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners raised its position in shares of Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company's stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,950 shares of company stock valued at $5,494,288 over the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

NEM stock opened at $100.10 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market cap of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The stock's 50 day simple moving average is $110.94 and its 200 day simple moving average is $109.98.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business's 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 EPS. As a group, equities research analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's dividend payout ratio (DPR) is currently 13.49%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and upped their price target for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Weiss Ratings lowered Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group dropped their price target on Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $142.26.

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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