PKO BP BANKOWY Universal Pension Society JSC Makes New $4.99 Million Investment in Newmont Corporation $NEM

Key Points

• PKO BP BANKOWY Universal Pension Society JSC opened a new position in Newmont during the fourth quarter, buying 50,000 shares worth about $4.99 million. The stake represents about 2.5% of its portfolio and is its 9th largest holding.
• Newmont reported strong quarterly results, with EPS of $2.90 versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% year over year. Analysts currently expect full-year EPS of 9.72.
• The company also announced a quarterly dividend of $0.26 per share, payable June 22, which annualizes to $1.04 per share for a 0.9% yield. Meanwhile, insiders sold shares in recent months, including notable sales by David John Thornton and Peter Wexler.

PKO BP BANKOWY Universal Pension Society JSC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the basic materials company's stock, valued at approximately $4,992,000. Newmont comprises about 2.5% of PKO BP BANKOWY Universal Pension Society JSC's portfolio, making the stock its 9th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock worth $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Newmont by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after purchasing an additional 711,940 shares in the last quarter. Boston Partners boosted its stake in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Newmont by 16.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company's stock valued at $498,928,000 after purchasing an additional 692,560 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Newmont by 33.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company's stock valued at $414,270,000 after purchasing an additional 1,244,845 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 0.7%

NYSE:NEM opened at $109.81 on Tuesday. Newmont Corporation has a one year low of $49.99 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company's 50-day simple moving average is $111.83 and its 200 day simple moving average is $107.46. The firm has a market capitalization of $117.23 billion, a P/E ratio of 14.24, a PEG ratio of 1.52 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Newmont's quarterly revenue was up 45.8% on a year-over-year basis. As a group, analysts forecast that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont's payout ratio is presently 13.49%.

Insider Activity

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction 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 $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. Canadian Imperial Bank of Commerce cut their target price on shares of Newmont from $177.00 to $176.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Canaccord Genuity Group lifted their target price on shares of Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. UBS Group cut their target price on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Finally, Stifel Nicolaus raised their price objective on Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.51.

Newmont Company 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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