Newmont Corporation $NEM Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Newmont Corporation (NYSE:NEM) by 322.3% in the first quarter, Holdings Channel reports. The institutional investor owned 182,674 shares of the basic materials company’s stock after buying an additional 139,419 shares during the period. Fifth Third Bancorp’s holdings in Newmont were worth $19,774,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new position in Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the 1st quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Newmont during the fourth quarter worth approximately $26,000. Finally, JPL Wealth Management LLC acquired a new stake in Newmont in the 3rd quarter valued at $27,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade 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. Over the last ninety days, insiders sold 28,556 shares of company stock valued at $3,058,146. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NEM shares. TD increased their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Macquarie Infrastructure lowered their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Jefferies Financial Group dropped their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Scotiabank cut their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $137.64.

Newmont Price Performance

NEM stock opened at $93.07 on Tuesday. The firm has a 50-day moving average of $103.98 and a two-hundred day moving average of $110.59. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $99.36 billion, a PE ratio of 12.07, a P/E/G ratio of 1.08 and a beta of 0.46.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. On average, analysts forecast that Newmont Corporation will post 9.32 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 13.49%.

Newmont 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.