Newmont Corporation $NEM Shares Bought by Korea Investment CORP

Korea Investment CORP raised its position in Newmont Corporation (NYSE:NEM) by 16.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,160,778 shares of the basic materials company’s stock after purchasing an additional 160,963 shares during the period. Korea Investment CORP owned about 0.10% of Newmont worth $56,042,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NEM. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Newmont by 44.0% in the fourth quarter. GeoWealth Management LLC now owns 9,484 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 2,898 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Newmont by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company’s stock valued at $281,797,000 after acquiring an additional 630,031 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Newmont by 9.9% in the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock valued at $3,575,000 after acquiring an additional 8,678 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock valued at $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the sale, the director owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $69.04 on Tuesday. The stock’s 50-day moving average is $61.31 and its 200-day moving average is $53.44. The company has a market cap of $75.84 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $70.29.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. Raymond James Financial upped their price objective on Newmont from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.58.

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.