83,700 Shares in Newmont Corporation $NEM Purchased by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 83,700 shares of the basic materials company’s stock, valued at approximately $4,876,000. Newmont comprises about 1.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 10th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Newmont in the 1st quarter valued at approximately $306,507,000. Pacer Advisors Inc. lifted its holdings in shares of Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after purchasing an additional 5,251,616 shares in the last quarter. Boston Partners boosted its position in Newmont by 4,081.8% during the 2nd quarter. Boston Partners now owns 4,633,175 shares of the basic materials company’s stock worth $271,982,000 after acquiring an additional 4,522,381 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Newmont in the 2nd quarter valued at about $187,206,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. The trade was a 5.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NEM. Bank of America boosted their target price on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average price target of $88.99.

Newmont Stock Up 0.9%

Shares of NYSE NEM opened at $87.42 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market capitalization of $95.40 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company’s 50 day moving average price is $85.20 and its 200-day moving average price is $69.54. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

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.