Swiss National Bank Sells 163,400 Shares of Newmont Corporation $NEM

Swiss National Bank trimmed its stake in Newmont Corporation (NYSE:NEM) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,010,105 shares of the basic materials company’s stock after selling 163,400 shares during the period. Swiss National Bank owned 0.28% of Newmont worth $300,559,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NEM. Norges Bank bought a new position in shares of Newmont in the 4th quarter worth $1,443,128,000. Assetmark Inc. raised its position in shares of Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after acquiring an additional 2,294,396 shares in the last quarter. Boston Partners raised its position in shares of Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after acquiring an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after acquiring an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Newmont by 142.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after acquiring an additional 1,914,286 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 5.1%

Shares of NYSE:NEM opened at $97.52 on Friday. The business’s 50-day moving average is $111.21 and its 200 day moving average is $110.05. Newmont Corporation has a 1 year low of $54.14 and a 1 year high of $134.88. The firm has a market capitalization of $104.11 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. On average, research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. 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 1.1%. Newmont’s dividend payout ratio is currently 13.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEM. BMO Capital Markets upped their target price on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Barclays began coverage on Newmont in a research report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. UBS Group reduced their target price on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Finally, BNP Paribas Exane upped their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 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 $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 49,950 shares of company stock valued at $5,494,288. Insiders own 0.06% of the company’s stock.

About Newmont

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.