Newmont Corporation (NYSE:NEM) Stock Position Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 182,930 shares of the basic materials company's stock after buying an additional 63,390 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Newmont were worth $8,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Geode Capital Management LLC increased its stake in shares of Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank acquired a new position in Newmont in the 4th quarter worth about $626,074,000. Northern Trust Corp raised its stake in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares in the last quarter. Amundi lifted its holdings in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the transaction, the director directly owned 45,180 shares of the company's stock, valued at $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock valued at $381,539. Insiders own 0.05% of the company's stock.

Newmont Stock Up 2.6%

NEM opened at $58.24 on Tuesday. The business has a 50 day moving average of $54.24 and a 200-day moving average of $47.74. The stock has a market capitalization of $64.82 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.75 and a beta of 0.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31.

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 for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period in the prior year, the firm earned $0.55 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on NEM shares. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.38.

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.

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