Oddo BHF Asset Management Sas Grows Stake in Newmont Corporation $NEM

Oddo BHF Asset Management Sas lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 22.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 157,384 shares of the basic materials company’s stock after buying an additional 28,668 shares during the period. Oddo BHF Asset Management Sas’ holdings in Newmont were worth $17,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new position in Newmont in the first quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in Newmont during the first quarter worth approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $91.34 on Thursday. The firm’s fifty day simple moving average is $99.02 and its 200-day simple moving average is $109.65. Newmont Corporation has a 12 month low of $61.76 and a 12 month high of $134.88. The stock has a market capitalization of $96.24 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.35 billion. During the same quarter in the prior year, the business earned $1.43 EPS. As a group, equities analysts forecast that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 13.13%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 28,556 shares of company stock worth $3,058,146 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Newmont in a research report on Tuesday. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Citigroup dropped their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Canaccord Genuity Group reduced their target price on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.83.

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.