Robeco Institutional Asset Management B.V. Boosts Holdings in Newmont Corporation $NEM

Robeco Institutional Asset Management B.V. grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 2,003.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,581,171 shares of the basic materials company’s stock after acquiring an additional 1,506,010 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Newmont were worth $92,119,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NEM. Brighton Jones LLC raised its stake in shares of Newmont by 15.7% during the fourth 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. NBC Securities Inc. raised its stake in shares of Newmont by 108,025.0% during the first quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 4,321 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Newmont by 107.8% during the first quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock worth $821,000 after acquiring an additional 8,817 shares in the last quarter. RFG Advisory LLC bought a new position in shares of Newmont in the first quarter worth approximately $1,019,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Newmont by 7.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company’s stock worth $785,000 after purchasing an additional 1,089 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE:NEM opened at $86.35 on Friday. The stock has a market cap of $94.85 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The firm’s fifty day simple moving average is $73.95 and its 200 day simple moving average is $60.81. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Scotiabank raised their target price on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. BNP Paribas Exane raised their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.38.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the transaction, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,169 shares of company stock valued at $955,286. 0.05% of the stock is currently owned by company insiders.

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.