Banco Santander S.A. Raises Stock Position in Newmont Corporation $NEM

Banco Santander S.A. grew its holdings in Newmont Corporation (NYSE:NEM) by 2,244.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,284 shares of the basic materials company’s stock after buying an additional 122,812 shares during the period. Banco Santander S.A.’s holdings in Newmont were worth $7,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NEM. Nuveen LLC acquired a new stake in shares of Newmont in the first quarter valued at about $306,507,000. Pacer Advisors Inc. boosted its stake in Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after buying an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. boosted its stake in 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 worth $273,391,000 after buying an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Newmont by 2,003.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after buying an additional 1,506,010 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 in the last three months. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent research reports. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada lifted their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Buy” and a consensus price target of $86.92.

Newmont Price Performance

Shares of NYSE NEM opened at $78.38 on Tuesday. The firm has a market capitalization of $86.09 billion, a P/E ratio of 12.17, a PEG ratio of 0.56 and a beta of 0.34. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company’s fifty day moving average is $81.35 and its two-hundred day moving average is $65.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont’s payout ratio is currently 15.53%.

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.