Aviva PLC Increases Stake in Newmont Corporation $NEM

Aviva PLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,015,158 shares of the basic materials company’s stock after buying an additional 57,157 shares during the period. Aviva PLC’s holdings in Newmont were worth $101,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its stake in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont in the second quarter worth $240,000. Cerity Partners LLC increased its stake in shares of Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% 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 have sold 49,950 shares of company stock valued at $5,494,288 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. Bank of America increased their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Barclays initiated coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective for the company. Citigroup increased their price objective on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group increased their price objective on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday. Finally, TD Securities reissued a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $142.26.

Newmont Price Performance

NEM stock opened at $97.52 on Friday. Newmont Corporation has a 52 week low of $54.14 and a 52 week high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $111.21 and a two-hundred day simple moving average of $110.05. The firm has a market capitalization of $104.11 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the business earned $1.25 earnings per share. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 9.91 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, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 13.49%.

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.