Oddo BHF Asset Management Sas Buys New Holdings in Newmont Corporation $NEM

Key Points

• Oddo BHF Asset Management Sas disclosed a new fourth-quarter stake in Newmont, buying 128,716 shares valued at about $12.85 million.
• Wall Street sentiment remains generally positive: Newmont has a Moderate Buy consensus rating and an average price target of $141.79, with several firms recently raising targets.
• Newmont reported strong quarterly results, beating estimates with $2.90 EPS and $7.31 billion in revenue, and it also announced a $0.26 quarterly dividend payable June 22.

Oddo BHF Asset Management Sas purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 128,716 shares of the basic materials company's stock, valued at approximately $12,852,000.

Several other institutional investors have also added to or reduced their stakes in NEM. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Weiss Ratings downgraded Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. National Bank Financial boosted their target price on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Argus boosted their target price on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Barclays initiated coverage on Newmont in a research report on Thursday, May 21st. They set an "overweight" rating and a $133.00 target price on the stock. Finally, Canaccord Genuity Group boosted their target price on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $141.79.

Insider Transactions at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. The trade was a 6.08% 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. Insiders have sold a total of 31,556 shares of company stock valued at $3,444,276 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM opened at $105.77 on Tuesday. The business has a fifty day moving average of $110.78 and a 200 day moving average of $110.28. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock has a market cap of $112.91 billion, a P/E ratio of 13.72, a PEG ratio of 1.66 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the prior year, the business earned $1.25 EPS. The business's revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio is currently 13.49%.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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