BNP Paribas Decreases Stock Position in Newmont Corporation $NEM

BNP Paribas lessened its stake in Newmont Corporation (NYSE:NEM) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,019 shares of the basic materials company’s stock after selling 5,305 shares during the period. BNP Paribas’ holdings in Newmont were worth $1,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. Lodestone Wealth Management LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Newmont in the fourth quarter worth $30,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after buying an additional 231 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 1.2%

Shares of NEM opened at $109.45 on Wednesday. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $111.08 and its 200-day moving average price is $109.23. The firm has a market capitalization of $116.84 billion, a price-to-earnings ratio of 14.20 and a beta of 0.42.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is currently 13.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NEM shares. TD Securities reissued a “hold” rating and set a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Jefferies Financial Group decreased their price objective on shares of Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group increased their target price on shares of Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a report on Tuesday, April 28th. BMO Capital Markets raised their target price on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays initiated coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.48.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by company insiders.

Newmont 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.