Newmont Corporation $NEM Stake Reduced by Groupama Asset Managment

Groupama Asset Managment reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,978 shares of the basic materials company’s stock after selling 2,574 shares during the quarter. Groupama Asset Managment’s holdings in Newmont were worth $3,701,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in Newmont by 3.8% during the 1st quarter. Hsbc Holdings PLC now owns 3,163,543 shares of the basic materials company’s stock worth $152,499,000 after buying an additional 117,261 shares during the last quarter. Colonial Trust Advisors grew its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. M Holdings Securities Inc. grew its stake in Newmont by 6.2% during the 1st quarter. M Holdings Securities Inc. now owns 18,601 shares of the basic materials company’s stock worth $898,000 after buying an additional 1,088 shares during the last quarter. Wellington Management Group LLP grew its stake in Newmont by 75.7% during the 1st quarter. Wellington Management Group LLP now owns 318,247 shares of the basic materials company’s stock worth $15,365,000 after buying an additional 137,137 shares during the last quarter. Finally, Korea Investment CORP grew its stake in Newmont by 16.1% during the 1st quarter. Korea Investment CORP now owns 1,160,778 shares of the basic materials company’s stock worth $56,042,000 after buying an additional 160,963 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the sale, the director directly owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock worth $1,373,251 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NEM shares. Raymond James Financial increased their price target on Newmont from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Cfra Research raised Newmont to a “strong-buy” rating in a research note on Friday, April 25th. CIBC set a $74.00 price target on Newmont and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Finally, Scotiabank increased their price target on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.58.

Newmont Trading Down 2.4%

Shares of Newmont stock opened at $67.3460 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $73.98 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The business has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $53.54. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Newmont’s dividend payout ratio is 17.95%.

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.