AIA Group Ltd Grows Position in Newmont Corporation (NYSE:NEM)

Key Points

• AIA Group Ltd increased its stake in Newmont Corporation by 22.4% in the first quarter, owning 24,475 shares worth approximately $1.18 million.
• Newmont announced a quarterly dividend of $0.25 per share, representing a 1.5% yield, with the ex-dividend date set for September 4th.
• The company reported earnings per share of $1.43 for the last quarter, significantly exceeding analyst expectations of $0.95, with a revenue of $5.32 billion.

AIA Group Ltd boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 22.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,475 shares of the basic materials company's stock after purchasing an additional 4,482 shares during the quarter. AIA Group Ltd's holdings in Newmont were worth $1,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Newmont by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Invesco Ltd. grew its position in Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after buying an additional 228,116 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Newmont by 16.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock valued at $350,166,000 after buying an additional 1,331,278 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company's stock valued at $281,797,000 after buying an additional 630,031 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEM shares. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Scotiabank lifted their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock valued at $1,373,251 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.84 during trading on Friday, hitting $69.32. 7,702,418 shares of the stock traded hands, compared to its average volume of 11,928,213. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company has a market cap of $76.14 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.81 and a beta of 0.30. The company has a fifty day moving average price of $60.66 and a two-hundred day moving average price of $52.92. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Newmont's dividend payout ratio is presently 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.