Penserra Capital Management LLC Purchases 3,982 Shares of Newmont Corporation (NYSE:NEM)

Penserra Capital Management LLC grew its position in Newmont Corporation (NYSE:NEM) by 133.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,961 shares of the basic materials company’s stock after purchasing an additional 3,982 shares during the period. Penserra Capital Management LLC’s holdings in Newmont were worth $335,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NEM. SOA Wealth Advisors LLC. raised its holdings in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth about $26,000. Private Trust Co. NA raised its holdings in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC bought a new stake in Newmont during the first quarter worth about $31,000. Finally, Alpine Bank Wealth Management bought a new stake in Newmont during the first quarter worth about $32,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Newmont stock opened at $60.12 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.31. The stock’s 50 day moving average is $55.34 and its 200-day moving average is $48.91. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $66.91 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the business earned $0.55 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the sale, the executive vice president owned 74,526 shares of the company’s stock, valued at approximately $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. National Bank Financial upgraded Newmont to a “hold” rating in a report on Friday, March 21st. Royal Bank Of Canada upped their target price on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. The Goldman Sachs Group reissued a “neutral” rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday. Scotiabank reissued a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. Finally, UBS Group boosted their price target on Newmont from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.45.

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.