Panagora Asset Management Inc. Has $84.23 Million Holdings in Newmont Corporation $NEM

Panagora Asset Management Inc. increased its position in shares of Newmont Corporation (NYSE:NEM) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,445,767 shares of the basic materials company’s stock after purchasing an additional 87,955 shares during the period. Panagora Asset Management Inc. owned about 0.13% of Newmont worth $84,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Everstar Asset Management LLC acquired a new position in shares of Newmont in the 2nd quarter valued at $291,000. Lido Advisors LLC boosted its position in shares of Newmont by 27.9% during the 2nd quarter. Lido Advisors LLC now owns 17,496 shares of the basic materials company’s stock valued at $1,019,000 after acquiring an additional 3,820 shares in the last quarter. New York State Common Retirement Fund raised its position in Newmont by 9.5% in the second quarter. New York State Common Retirement Fund now owns 1,483,641 shares of the basic materials company’s stock worth $86,437,000 after purchasing an additional 128,400 shares in the last quarter. West Family Investments Inc. bought a new position in Newmont during the second quarter worth about $351,000. Finally, Schroder Investment Management Group boosted its holdings in Newmont by 10.5% during the second quarter. Schroder Investment Management Group now owns 1,513,950 shares of the basic materials company’s stock valued at $88,203,000 after purchasing an additional 144,147 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Newmont stock opened at $90.65 on Monday. The business’s fifty day moving average is $86.28 and its two-hundred day moving average is $71.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm has a market cap of $98.93 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

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

Newmont Announces Dividend

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

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,237 shares of company stock worth $906,799 over the last quarter. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NEM shares. Argus increased their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. UBS Group upped their price target on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Bank of America boosted their target price on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada increased their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $91.20.

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.