Aviva PLC Grows Holdings in Newmont Corporation $NEM

Aviva PLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,015,158 shares of the basic materials company’s stock after purchasing an additional 57,157 shares during the quarter. Aviva PLC owned approximately 0.09% of Newmont worth $101,364,000 as of its most recent SEC filing.

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

Insider Activity at Newmont

In related news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David John Thornton sold 2,296 shares of the company’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 $252,812.56. Following the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 49,950 shares of company stock valued at $5,494,288 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the company an “outperform” rating in a research note on Monday, June 1st. Canaccord Genuity Group increased their target price on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the company from $121.00 to $157.00 in a report on Friday, February 27th. Jefferies Financial Group raised their price target on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. 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 company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Trading Up 5.1%

Shares of NYSE NEM opened at $97.52 on Friday. The stock has a market cap of $104.11 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a 50-day moving average of $111.21 and a 200 day moving average of $110.05. Newmont Corporation has a 1 year low of $54.14 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s payout ratio is currently 13.49%.

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.