UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $173.25 Million in Newmont Corporation $NEM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,289,435 shares of the basic materials company’s stock, valued at approximately $173,249,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Leonteq Securities AG bought a new stake in shares of Newmont in the fourth quarter valued at about $9,018,000. ARS Investment Partners LLC raised its holdings in Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after acquiring an additional 23,900 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Newmont in the 2nd quarter worth approximately $36,180,000. Asset One Wealth Management LLC bought a new stake in shares of Newmont in the 2nd quarter worth approximately $2,866,000. Finally, Private Advisory Group LLC acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $10,430,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on NEM shares. Royal Bank Of Canada cut their target price on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. TD boosted their price target on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. BMO Capital Markets reduced their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Scotiabank lifted their target price on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.73.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 25,209 shares of company stock worth $2,567,701. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 2.8%

Shares of NEM opened at $122.56 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market cap of $129.14 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.30 and a beta of 0.52. The stock has a fifty day moving average price of $105.20 and a two-hundred day moving average price of $109.51. Newmont Corporation has a 52-week low of $73.44 and a 52-week high of $135.29.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company posted $1.43 earnings per share. Analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio is currently 13.13%.

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.