Groupama Asset Managment Sells 24,615 Shares of Newmont Corporation $NEM

Groupama Asset Managment lowered its holdings in Newmont Corporation (NYSE:NEM) by 34.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,735 shares of the basic materials company’s stock after selling 24,615 shares during the period. Groupama Asset Managment’s holdings in Newmont were worth $5,059,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after buying an additional 637,996 shares during the last quarter. State Street Corp increased its holdings in Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after buying an additional 480,223 shares during the last quarter. Van ECK Associates Corp raised its position in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after acquiring an additional 5,643,496 shares during the period. Geode Capital Management LLC raised its position in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after acquiring an additional 946,824 shares during the period. Finally, Norges Bank purchased a new position in Newmont in the fourth quarter valued at about $1,443,128,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the sale, the executive vice president owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% 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. Insiders sold a total of 9,882 shares of company stock valued at $1,001,952 over the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $93.70 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $98.73 billion, a PE ratio of 11.83, a P/E/G ratio of 1.07 and a beta of 0.46. Newmont Corporation has a twelve month low of $61.76 and a twelve month high of $134.88. The company has a 50-day moving average price of $98.48 and a two-hundred day moving average price of $109.45.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the company earned $1.43 earnings per share. Equities analysts forecast that Newmont Corporation will post 8.99 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 13.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEM. Royal Bank Of Canada reduced their target price on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group lowered their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $168.00 price objective on shares of Newmont in a research note on Tuesday. National Bank Financial reduced their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $132.83.

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.