Newmont Corporation $NEM Shares Newly Purchased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. acquired a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,000 shares of the basic materials company’s stock, valued at approximately $461,000.

A number of other large investors also recently modified their holdings of the company. Pinion Investment Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter valued at $213,000. Altiora Financial Group LLC bought a new position in shares of Newmont in the third quarter worth $281,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Newmont in the third quarter worth $46,739,000. Gryphon Financial Partners LLC bought a new position in shares of Newmont in the third quarter worth $1,204,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Newmont in the third quarter worth $42,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

NYSE:NEM opened at $125.13 on Tuesday. The business has a 50 day moving average of $118.81 and a 200 day moving average of $112.51. The company has a market capitalization of $130.03 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.15 and a beta of 0.56. Newmont Corporation has a 1-year low of $81.34 and a 1-year high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 25th. Newmont’s payout ratio is presently 12.09%.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $419,411.28. Following the completion of the sale, the chief executive officer owned 101,691 shares of the company’s stock, valued at approximately $10,986,695.64. This represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president directly owned 31,315 shares of the company’s stock, valued at $3,383,272.60. This trade represents a 8.74% 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. Over the last 90 days, insiders sold 20,646 shares of company stock valued at $2,380,140. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and set a $140.00 price objective (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a research note on Friday, October 16th. BMO Capital Markets upped their target price on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Citigroup raised their price target on Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Finally, Barclays dropped their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

About Newmont