Newmont Corporation $NEM Shares Purchased by Robeco Institutional Asset Management B.V.
by Sarita Garza · The Markets DailyRobeco Institutional Asset Management B.V. raised its holdings in Newmont Corporation (NYSE:NEM – Free Report) by 172.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,304,215 shares of the basic materials company’s stock after purchasing an additional 2,723,044 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.39% of Newmont worth $362,888,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Concord Wealth Partners grew its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC lifted its stake in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. Capital A Wealth Management LLC lifted its stake in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares in the last quarter. Caldwell Trust Co acquired a new stake in Newmont in the 2nd quarter worth about $31,000. Finally, Country Trust Bank purchased a new stake in Newmont during the 2nd quarter worth approximately $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on NEM. UBS Group raised their target price on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. CIBC set a $112.00 price objective on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Royal Bank Of Canada lifted their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. National Bankshares increased their target price on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Newmont has an average rating of “Buy” and a consensus price target of $97.08.
Get Our Latest Stock Report on NEM
Insider Activity at Newmont
In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,160 shares of company stock valued at $767,206 over the last quarter. 0.05% of the stock is currently owned by company insiders.
Newmont Stock Up 2.3%
NYSE NEM opened at $103.51 on Tuesday. The business’s fifty day simple moving average is $92.12 and its 200-day simple moving average is $79.48. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $112.95 billion, a PE ratio of 16.07, a P/E/G ratio of 0.61 and a beta of 0.41. Newmont Corporation has a 52 week low of $37.68 and a 52 week high of $106.34.
Newmont (NYSE:NEM – Get Free Report) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.
Newmont Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio is currently 15.53%.
About Newmont
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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