Victory Capital Management Inc. Has $414.27 Million Stock Holdings in Newmont Corporation $NEM

Victory Capital Management Inc. grew its position in Newmont Corporation (NYSE:NEM) by 33.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,925,237 shares of the basic materials company’s stock after buying an additional 1,244,845 shares during the period. Victory Capital Management Inc. owned 0.45% of Newmont worth $414,270,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NEM. Norges Bank acquired a new stake in Newmont in the second quarter worth about $919,170,000. Invesco Ltd. grew its position in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares during the period. Legal & General Group Plc raised its stake in shares of Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after buying an additional 438,748 shares during the last quarter. Boston Partners lifted its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after buying an additional 4,532,263 shares during the period. Finally, National Pension Service lifted its holdings in Newmont by 2.7% in the third quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock valued at $367,108,000 after buying an additional 114,949 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the company from $121.00 to $157.00 in a research report on Friday. National Bank Financial lifted their price objective on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group boosted their target price on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $129.73.

Newmont Trading Down 0.9%

NYSE NEM opened at $128.82 on Tuesday. The firm has a market cap of $140.14 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.08 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The stock’s 50-day moving average is $116.26 and its 200-day moving average is $95.77. Newmont Corporation has a one year low of $41.93 and a one year high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont’s dividend payout ratio is currently 15.65%.

Newmont Company 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.