Czech National Bank Acquires 8,666 Shares of Newmont Corporation $NEM

Czech National Bank grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,650 shares of the basic materials company’s stock after purchasing an additional 8,666 shares during the period. Czech National Bank’s holdings in Newmont were worth $28,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in Newmont during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its holdings in Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $27,000. Capital A Wealth Management LLC lifted its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the period. Finally, Caldwell Trust Co acquired a new stake in shares of Newmont during the 2nd quarter worth $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $108.00, for a total value of $324,000.00. Following the completion of the transaction, the executive vice president directly owned 55,315 shares of the company’s stock, valued at approximately $5,974,020. The trade was a 5.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.05% of the company’s stock.

Newmont Stock Up 2.6%

Shares of NYSE NEM opened at $101.57 on Thursday. The company has a market cap of $110.50 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.77 and a beta of 0.39. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The stock has a 50-day moving average price of $117.57 and a two-hundred day moving average price of $100.07.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company posted $1.40 EPS. As a group, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be given a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is 16.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Securities dropped their price target on Newmont from $120.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, March 3rd. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Raymond James Financial boosted their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Royal Bank Of Canada increased their price target on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Scotiabank cut their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $134.10.

About Newmont

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.