ING Groep NV Buys New Stake in Newmont Corporation $NEM

ING Groep NV bought a new stake in Newmont Corporation (NYSE:NEM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 213,149 shares of the basic materials company’s stock, valued at approximately $21,283,000.

Other large investors have also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter valued at $25,000. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in Newmont in the fourth quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new position in Newmont in the fourth quarter valued at $30,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, 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 completion of the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% 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. Also, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 49,950 shares of company stock valued at $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Macquarie Infrastructure upped their price objective on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada decreased their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Finally, Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.07.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Newmont Stock Performance

NYSE NEM opened at $99.77 on Monday. 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 Corporation has a 1 year low of $52.08 and a 1 year high of $134.88. The company has a market capitalization of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.65 and a beta of 0.42. The company has a fifty day moving average of $111.70 and a two-hundred day moving average of $109.71.

Newmont (NYSE:NEM) last announced 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 net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

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

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.