Norinchukin Bank The increased its position in shares of Newmont Co. (NYSE:NEM) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,569 shares of the basic materials company’s stock after purchasing an additional 818 shares during the period. Norinchukin Bank The’s holdings in Newmont were worth $4,012,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Newmont by 2.2% during the first quarter. BlackRock Inc. now owns 95,698,665 shares of the basic materials company’s stock valued at $5,767,761,000 after purchasing an additional 2,076,774 shares during the period. Van ECK Associates Corp increased its position in shares of Newmont by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 38,024,490 shares of the basic materials company’s stock valued at $2,277,287,000 after purchasing an additional 2,105,656 shares during the period. Flossbach Von Storch AG increased its position in shares of Newmont by 13.7% during the first quarter. Flossbach Von Storch AG now owns 16,130,325 shares of the basic materials company’s stock valued at $972,175,000 after purchasing an additional 1,937,966 shares during the period. Northern Trust Corp increased its position in shares of Newmont by 1.9% during the fourth quarter. Northern Trust Corp now owns 11,147,154 shares of the basic materials company’s stock valued at $667,604,000 after purchasing an additional 202,724 shares during the period. Finally, Norges Bank bought a new stake in shares of Newmont during the fourth quarter valued at approximately $390,542,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
A number of research firms have recently issued reports on NEM. Citigroup lowered their price objective on Newmont from $70.00 to $66.00 in a research report on Friday, February 19th. Argus upped their price target on Newmont from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. Zacks Investment Research cut Newmont from a “hold” rating to a “sell” rating and set a $71.00 price target on the stock. in a research report on Monday, May 10th. National Bank Financial reiterated an “outperform” rating on shares of Newmont in a research report on Friday, April 23rd. Finally, TD Securities lowered their price target on Newmont from $78.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $69.69.
Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 29th. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). Newmont had a net margin of 21.77% and a return on equity of 10.18%. As a group, equities analysts predict that Newmont Co. will post 3.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, June 2nd. Newmont’s dividend payout ratio (DPR) is presently 82.71%.
In other Newmont news, EVP Jennifer Cmil sold 6,348 shares of the stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $61.00, for a total value of $387,228.00. Following the transaction, the executive vice president now owns 17,814 shares of the company’s stock, valued at $1,086,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Blake Rhodes sold 3,000 shares of the stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $75.00, for a total value of $225,000.00. Following the completion of the transaction, the senior vice president now directly owns 51,311 shares in the company, valued at approximately $3,848,325. The disclosure for this sale can be found here. Insiders have sold 48,862 shares of company stock worth $3,255,921 in the last ninety days. 0.12% of the stock is currently owned by insiders.
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.
Featured Article: Why is insider trading harmful?
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.