iA Global Asset Management Inc. Has $22.15 Million Holdings in Newmont Corporation $NEM

iA Global Asset Management Inc. boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 156.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 221,790 shares of the basic materials company’s stock after buying an additional 135,446 shares during the period. iA Global Asset Management Inc.’s holdings in Newmont were worth $22,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its stake in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Newmont in the 2nd quarter worth about $240,000. Cerity Partners LLC lifted its stake in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 3,856 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 6.4%

NEM opened at $108.93 on Friday. Newmont Corporation has a fifty-two week low of $48.61 and a fifty-two week high of $134.88. The business has a 50-day moving average of $111.96 and a 200-day moving average of $107.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a market capitalization of $116.29 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the business earned $1.25 EPS. The business’s quarterly revenue was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEM. Argus increased their price objective on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Sanford C. Bernstein raised 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. BNP Paribas Exane increased their price objective on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, UBS Group reduced their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.51.

Insider Buying and Selling

In other news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. This represents a 5.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 43,068 shares of company stock worth $4,769,475. Insiders own 0.06% of the company’s stock.

Newmont Company Profile

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.