NatWest Group plc Makes New Investment in Newmont Corporation $NEM

NatWest Group plc acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 113,137 shares of the basic materials company’s stock, valued at approximately $9,539,000. Newmont comprises about 2.4% of NatWest Group plc’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC boosted its stake in Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after buying an additional 145 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the period. IVC Wealth Advisors LLC lifted its holdings in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 173 shares during the period. L2 Asset Management LLC boosted its position in shares of Newmont by 3.6% in the second quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 174 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 185 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM stock opened at $99.28 on Thursday. The company’s fifty day simple moving average is $88.51 and its 200-day simple moving average is $75.06. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $102.13. The company has a market cap of $108.34 billion, a PE ratio of 15.42, a P/E/G ratio of 0.68 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.81 EPS. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NEM shares. Citigroup increased their price target on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Royal Bank Of Canada lifted their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $96.37.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,240 shares of company stock worth $943,985. Company insiders own 0.05% of the company’s stock.

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.