Compagnie Lombard Odier SCmA Reduces Holdings in Newmont Corporation $NEM

Compagnie Lombard Odier SCmA reduced its position in Newmont Corporation (NYSE:NEM) by 66.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,555 shares of the basic materials company’s stock after selling 7,152 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Newmont were worth $355,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Estate Counselors LLC acquired a new stake in Newmont during the 3rd quarter worth approximately $4,182,000. AustralianSuper Pty Ltd increased its holdings in shares of Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in shares of Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after purchasing an additional 44,846 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after purchasing an additional 2,723,044 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Up 0.3%

NYSE:NEM opened at $114.13 on Friday. Newmont Corporation has a 1 year low of $42.93 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a fifty day moving average price of $116.33 and a two-hundred day moving average price of $101.11. The stock has a market capitalization of $123.26 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.88 and a beta of 0.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Newmont’s payout ratio is presently 16.28%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. Macquarie Infrastructure lifted their price objective on shares of Newmont from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. Royal Bank Of Canada raised their target price on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. TD Securities lowered their target price on shares of Newmont from $120.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, March 3rd. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $133.78.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00. Following the transaction, the executive vice president directly owned 55,315 shares in the company, valued at approximately $5,974,020. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred 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 sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.05% of the company’s stock.

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.