PKO Investment Management Joint Stock Co Has $35.95 Million Stock Position in Newmont Corporation $NEM

Key Points

• PKO Investment Management increased its Newmont stake by 15.3% in the first quarter, adding 44,181 shares and bringing its total holding to 332,134 shares valued at about $35.95 million.
• Newmont continues to attract heavy institutional ownership, with major investors like Vanguard, State Street, and VanEck also holding large positions; overall, institutions own 68.85% of the company.
• Analysts remain broadly positive on Newmont, with a consensus rating of Moderate Buy and an average price target of $140.98, even as some insiders recently sold shares under pre-arranged trading plans.

PKO Investment Management Joint Stock Co boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 332,134 shares of the basic materials company's stock after buying an additional 44,181 shares during the quarter. Newmont accounts for approximately 3.0% of PKO Investment Management Joint Stock Co's holdings, making the stock its 6th biggest position. PKO Investment Management Joint Stock Co's holdings in Newmont were worth $35,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NEM. Vanguard Group Inc. grew its position 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 purchasing an additional 637,996 shares during the period. State Street Corp lifted its holdings in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after buying an additional 480,223 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the period. Geode Capital Management LLC boosted its stake in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after buying an additional 946,824 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Newmont in the fourth quarter worth $1,443,128,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on NEM. TD Securities reiterated a "hold" rating and set a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. National Bank Financial raised their target price on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Citigroup boosted their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group reduced their price target on shares of Newmont from $125.10 to $122.50 and set a "buy" rating for the company in a research report on Thursday, June 4th. Finally, Argus increased their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.98.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company's stock, valued at $15,060,654.68. This represents a 2.64% 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. In the last quarter, insiders have sold 28,556 shares of company stock valued at $3,120,276. Insiders own 0.06% of the company's stock.

Newmont Trading Down 1.9%

NYSE:NEM opened at $101.78 on Tuesday. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The business has a fifty day moving average price of $109.68 and a 200-day moving average price of $110.77. The firm has a market capitalization of $108.65 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the business earned $1.25 earnings per share. Newmont's quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont's payout ratio is presently 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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