Amundi Sells 4,720,941 Shares of Newmont Corporation $NEM

Amundi cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 37.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,925,173 shares of the basic materials company’s stock after selling 4,720,941 shares during the period. Amundi owned 0.72% of Newmont worth $475,986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Newmont in the second quarter valued at $919,170,000. Nuveen LLC bought a new position in Newmont in the 1st quarter worth $306,507,000. Invesco Ltd. lifted its position in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the period. Boston Partners boosted its stake in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 valued at $273,391,000 after buying an additional 4,399,778 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,240 shares of company stock worth $943,985. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. UBS Group lifted their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday. TD Securities upped their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.22.

Newmont Stock Performance

Shares of NEM opened at $89.84 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $98.04 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.63 and a beta of 0.41. The business’s 50 day moving average price is $86.92 and its 200-day moving average price is $72.49. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

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.