Achmea Investment Management B.V. Acquires 339,526 Shares of Newmont Corporation $NEM

Achmea Investment Management B.V. lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 254.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,867 shares of the basic materials company’s stock after buying an additional 339,526 shares during the quarter. Achmea Investment Management B.V.’s holdings in Newmont were worth $39,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Newmont in the second quarter valued at $919,170,000. Invesco Ltd. boosted its stake in 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 grew its holdings in 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 buying an additional 4,532,263 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Newmont by 106.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after buying an additional 2,146,905 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 0.7%

NYSE:NEM opened at $110.97 on Wednesday. The firm has a market capitalization of $120.72 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.85 and a beta of 0.39. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $118.89 and a 200 day moving average of $99.20. Newmont Corporation has a 52 week low of $42.93 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 earnings per share. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 16.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NEM shares. National Bank Financial raised their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Bank of America raised their price target on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets reduced their price target on shares of Newmont from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Raymond James Financial upped their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average price target of $134.15.

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.