Eurizon Capital SGR S.p.A. Makes New $69.17 Million Investment in Newmont Corporation $NEM

Eurizon Capital SGR S.p.A. bought a new position in Newmont Corporation (NYSE:NEM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 691,089 shares of the basic materials company’s stock, valued at approximately $69,165,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Newmont by 0.5% in the fourth 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. Geode Capital Management LLC lifted its position in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after purchasing an additional 946,824 shares during the period. Legal & General Group Plc lifted its position in Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock worth $687,223,000 after purchasing an additional 711,940 shares during the period. Boston Partners lifted its position in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Newmont by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock worth $498,928,000 after purchasing an additional 692,560 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the subject of a number of research analyst reports. TD upped their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. BNP Paribas Exane upped their target price on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Macquarie Infrastructure upped their target price on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. UBS Group cut their target price on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Finally, National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.53.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares in the company, valued at $5,430,074.65. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

NEM opened at $109.60 on Friday. The firm has a market cap of $117.01 billion, a PE ratio of 14.22 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $110.89 and a 200-day simple moving average of $108.96. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data 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. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the company posted $1.25 EPS. As a group, equities analysts predict that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 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.