Mirae Asset Global Investments Co. Ltd. Buys 6,918 Shares of Newmont Corporation $NEM

Mirae Asset Global Investments Co. Ltd. raised its stake in Newmont Corporation (NYSE:NEM) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,848 shares of the basic materials company’s stock after acquiring an additional 6,918 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Newmont were worth $11,061,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NEM. Nuveen LLC bought a new position in Newmont in the 1st quarter valued at about $306,507,000. Pacer Advisors Inc. raised its holdings in Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after acquiring an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. raised its holdings in Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Newmont by 1,074.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after acquiring an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 2,003.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after acquiring an additional 1,506,010 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $86.86 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.34. The firm’s 50 day simple moving average is $74.37 and its 200 day simple moving average is $61.17. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Analyst Ratings Changes

A number of brokerages have issued reports on NEM. National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. UBS Group increased their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Raymond James Financial increased their target price on shares of Newmont from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.18.

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.