Newmont Corporation $NEM Shares Newly Acquired by PKO BP BANKOWY Universal Pension Society JSC

Key Points

• PKO BP BANKOWY Universal Pension Society JSC acquired 49,800 Newmont shares worth approximately $5.7 million, making the stock 1.7% of its portfolio. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Newmont reported quarterly earnings of $2.10 per share, exceeding analysts’ $2.05 estimate, while revenue of $6.12 billion fell short of the $6.35 billion consensus. The company also maintains a $0.26 quarterly dividend, equivalent to a 0.9% annual yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $134.26, compared with the reported share price of $117.85. However, company insiders sold 35,973 shares worth about $3.9 million over the past 90 days.

PKO BP BANKOWY Universal Pension Society JSC purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 49,800 shares of the basic materials company's stock, valued at approximately $5,744,000. Newmont makes up 1.7% of PKO BP BANKOWY Universal Pension Society JSC's portfolio, making the stock its 11th biggest position.

A number of other large investors also recently bought and sold shares of NEM. BlackRock Inc. purchased a new stake in Newmont in the 2nd quarter worth approximately $11,289,753,000. State Street Corp lifted its stake in shares of Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the period. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock valued at $1,324,757,000 after buying an additional 615,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock worth $1,012,792,000 after acquiring an additional 184,586 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

NEM stock traded up $2.30 during trading on Friday, hitting $117.85. The stock had a trading volume of 2,095,938 shares, compared to its average volume of 8,630,432. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The stock has a market capitalization of $124.18 billion, a P/E ratio of 14.88, a PEG ratio of 1.58 and a beta of 0.51. The company's 50-day moving average price is $120.34 and its two-hundred day moving average price is $110.23.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, research analysts predict that Newmont Corporation will post 9.1 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's dividend payout ratio is currently 13.13%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% 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, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 35,973 shares of company stock worth $3,927,169. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NEM. Macquarie Infrastructure dropped their target price on Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a research report on Monday, June 15th. TD increased their price target on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. BNP Paribas Exane dropped their price objective on Newmont from $111.00 to $102.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. TD Securities upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Zacks Research lowered 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 assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.26.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

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