Swiss National Bank Buys 201,400 Shares of Newmont Corporation $NEM

Swiss National Bank increased its stake in shares of Newmont Corporation (NYSE:NEM) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,412,405 shares of the basic materials company’s stock after purchasing an additional 201,400 shares during the quarter. Swiss National Bank owned approximately 0.31% of Newmont worth $198,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after buying an additional 191,940 shares in the last quarter. Amundi grew its position in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares during the last quarter. Invesco Ltd. increased its holdings in Newmont by 2.2% in the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Newmont by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock valued at $333,192,000 after purchasing an additional 50,840 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 1.7%

Shares of NYSE NEM opened at $83.38 on Friday. The company’s 50 day moving average price is $85.33 and its 200-day moving average price is $69.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a market capitalization of $90.99 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33.

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, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the transaction, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following 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. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Citigroup raised their price target on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.99.

About Newmont

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.