Vinva Investment Management Ltd Raises Stock Holdings in Newmont Corporation $NEM

Vinva Investment Management Ltd boosted its position in Newmont Corporation (NYSE:NEM) by 688.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 429,175 shares of the basic materials company’s stock after purchasing an additional 374,724 shares during the quarter. Newmont comprises about 0.7% of Vinva Investment Management Ltd’s holdings, making the stock its 27th largest position. Vinva Investment Management Ltd’s holdings in Newmont were worth $24,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Concord Wealth Partners boosted its position in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Country Trust Bank purchased a new stake in shares of Newmont in the second quarter valued at $32,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its position in Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after buying an additional 444 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Bank of America raised their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. BNP Paribas Exane upped their target price on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Finally, Argus upped their price target on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.20.

Newmont Stock Performance

Shares of NYSE NEM opened at $90.51 on Thursday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The company has a market cap of $98.77 billion, a PE ratio of 14.05, a P/E/G ratio of 0.53 and a beta of 0.33. The stock has a 50 day simple moving average of $85.85 and a 200-day simple moving average of $70.66. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Newmont Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.