Newmont Corporation $NEM Shares Purchased by Empowered Funds LLC

Empowered Funds LLC grew its stake in shares of Newmont Corporation (NYSE:NEM) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 553,178 shares of the basic materials company’s stock after buying an additional 9,317 shares during the quarter. Empowered Funds LLC’s holdings in Newmont were worth $59,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Norges Bank acquired a new position in shares of Newmont during the fourth quarter valued at approximately $1,443,128,000. Van ECK Associates Corp lifted its position in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Newmont by 110.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after purchasing an additional 4,588,018 shares during the period. AQR Capital Management LLC boosted its stake in Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after purchasing an additional 3,345,543 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. This represents a 6.48% 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, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. Bank of America dropped their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada decreased 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. UBS Group lowered their target price on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. BNP Paribas Exane dropped their price target on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Finally, Macquarie Infrastructure cut their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.26.

Newmont Trading Up 0.3%

Newmont stock opened at $93.45 on Tuesday. The firm has a market cap of $98.47 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.46. Newmont Corporation has a 1 year low of $61.76 and a 1 year high of $134.88. The firm’s 50 day moving average price is $99.61 and its two-hundred day moving average price is $109.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the firm earned $1.43 EPS. On average, research analysts predict that Newmont Corporation will post 8.9 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given 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 dividend yield of 1.1%. Newmont’s payout ratio is 13.13%.

Newmont Company 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.