Newmont Corporation $NEM Shares Newly Acquired by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK newly acquired 405,227 Newmont shares in the third quarter, valued at approximately $46.7 million; institutional investors own 68.85% of the company’s stock.
• Newmont reported quarterly EPS of $2.20, beating the $1.94 analyst consensus, while revenue rose 15.2% year over year to $6.36 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20; the company also announced a quarterly dividend of $0.26 per share.

AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 405,227 shares of the basic materials company's stock, valued at approximately $46,739,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. BlackRock Inc. bought a new position in shares of Newmont during the 2nd quarter worth approximately $11,289,753,000. Van ECK Associates Corp acquired a new stake in Newmont during the 2nd quarter valued at $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont during the second quarter worth $1,219,505,000. First Eagle Investment Management LLC bought a new position in Newmont during the second quarter worth $241,820,000. Finally, Amundi bought a new position in Newmont during the second quarter worth $209,411,000. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares of the company's stock, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the transaction, the chief executive officer owned 131,353 shares in the company, valued at approximately $16,156,419. The trade was a 2.87% 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. Insiders sold a total of 20,646 shares of company stock valued at $2,380,140 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Up 3.5%

NYSE NEM opened at $125.13 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1-year low of $81.34 and a 1-year high of $135.29. The company has a 50 day moving average of $118.81 and a 200-day moving average of $112.51. The company has a market cap of $130.03 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 2.15 and a beta of 0.56.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 earnings per share. On average, equities research analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a $0.26 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont's payout ratio is presently 12.09%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BNP Paribas Exane increased their price objective on shares of Newmont from $102.00 to $112.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. TD Securities upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Argus set a $110.00 price objective on Newmont and gave the company a "buy" rating in a report on Monday, August 3rd. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Zacks Research cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $137.20.

Newmont Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.