Groupe la Francaise Buys 25,000 Shares of Newmont Corporation $NEM

Groupe la Francaise lifted its stake in Newmont Corporation (NYSE:NEM) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,500 shares of the basic materials company’s stock after purchasing an additional 25,000 shares during the period. Groupe la Francaise’s holdings in Newmont were worth $14,530,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NEM. Brighton Jones LLC lifted its holdings in 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 buying an additional 1,847 shares during the period. Harbour Investments Inc. lifted its stake in shares of Newmont by 82.4% in the 1st quarter. Harbour Investments Inc. now owns 6,980 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 3,153 shares during the period. TIAA Trust National Association lifted its stake in shares of Newmont by 16.4% in the 1st quarter. TIAA Trust National Association now owns 6,474 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 911 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Newmont by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 133,640 shares of the basic materials company’s stock valued at $6,452,000 after purchasing an additional 7,238 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in Newmont by 0.9% in the first quarter. Scotia Capital Inc. now owns 76,477 shares of the basic materials company’s stock worth $3,691,000 after purchasing an additional 719 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.5%

Shares of Newmont stock opened at $90.47 on Wednesday. The company has a 50-day simple moving average of $86.56 and a two-hundred day simple moving average of $71.96. The stock has a market capitalization of $98.73 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

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

Newmont Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,160 shares of company stock worth $751,876. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NEM shares. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research note on Monday. BNP Paribas Exane raised their target price on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Finally, Citigroup boosted their price target on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Newmont has a consensus rating of “Buy” and a consensus target price of $92.59.

About Newmont

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.