Barings LLC Boosts Position in Newmont Corporation $NEM

Barings LLC boosted its position in Newmont Corporation (NYSE:NEM) by 61.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,561 shares of the basic materials company’s stock after purchasing an additional 32,556 shares during the period. Barings LLC’s holdings in Newmont were worth $4,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its position in Newmont by 40.0% during the second quarter. American Century Companies Inc. now owns 1,391,511 shares of the basic materials company’s stock valued at $81,069,000 after buying an additional 397,473 shares during the period. Camden National Bank purchased a new position in shares of Newmont during the 2nd quarter worth $213,000. Bowen Hanes & Co. Inc. bought a new stake in shares of Newmont during the 2nd quarter valued at $216,000. Stevens Capital Management LP bought a new position in Newmont in the 2nd quarter worth $513,000. Finally, Mufg Securities Americas Inc. raised its holdings in Newmont by 22.4% in the 2nd quarter. Mufg Securities Americas Inc. now owns 24,667 shares of the basic materials company’s stock worth $1,437,000 after purchasing an additional 4,515 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’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 transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on 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 in the company, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,237 shares of company stock valued at $906,799. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 1.7%

NEM stock opened at $83.38 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market capitalization of $90.99 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.33. The business has a 50 day simple moving average of $85.33 and a two-hundred day simple moving average of $69.95.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NEM. BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. UBS Group increased their target price on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Royal Bank Of Canada upped their price target on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, National Bankshares reissued an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.20.

Newmont Company 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.