AustralianSuper Pty Ltd Has $42.52 Million Stock Holdings in Newmont Corporation $NEM

AustralianSuper Pty Ltd boosted its stake in Newmont Corporation (NYSE:NEM) by 28.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 425,824 shares of the basic materials company’s stock after acquiring an additional 95,574 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Newmont were worth $42,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. grew its position in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Newmont in the 3rd quarter worth about $27,000. Finally, Lodestone Wealth Management LLC bought a new position in Newmont in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $116.32 on Friday. The business has a 50-day moving average of $112.16 and a 200-day moving average of $107.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a market capitalization of $124.18 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. Newmont Corporation has a 1 year low of $48.40 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on 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 directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 43,068 shares of company stock worth $4,769,475 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Scotiabank reduced their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. UBS Group cut their target price on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Raymond James Financial boosted their target price on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Finally, TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

About Newmont

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.