Newmont Corporation (NYSE:NEM) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,041 shares of the basic materials company's stock after purchasing an additional 7,582 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Newmont were worth $6,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Graypoint LLC increased its holdings in shares of Newmont by 23.4% during the first quarter. Graypoint LLC now owns 10,421 shares of the basic materials company's stock valued at $503,000 after acquiring an additional 1,974 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of Newmont during the first quarter valued at about $385,000. Allen Capital Group LLC acquired a new position in shares of Newmont during the first quarter valued at about $291,000. Cullen Frost Bankers Inc. increased its holdings in shares of Newmont by 5.8% during the first quarter. Cullen Frost Bankers Inc. now owns 232,910 shares of the basic materials company's stock valued at $11,245,000 after acquiring an additional 12,770 shares in the last quarter. Finally, Heathbridge Capital Management Ltd. increased its holdings in shares of Newmont by 19.8% during the first quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company's stock valued at $497,000 after acquiring an additional 1,700 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Stifel Nicolaus started coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.49.

Newmont Price Performance

Shares of NYSE:NEM traded down $0.45 during trading on Thursday, reaching $58.00. The stock had a trading volume of 13,667,467 shares, compared to its average volume of 10,797,938. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The business has a fifty day moving average price of $55.64 and a 200-day moving average price of $49.34. The stock has a market cap of $64.55 billion, a PE ratio of 13.00, a PEG ratio of 0.66 and a beta of 0.33. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $61.17.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $176,250.00. Following the transaction, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,231 shares of company stock worth $679,813 over the last ninety days. Corporate insiders own 0.05% of the company's stock.

Newmont 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.