Wellington Management Group LLP Invests $11.93 Million in Newmont Corporation $NEM

Wellington Management Group LLP acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, HoldingsChannel reports. The fund acquired 570,631 shares of the basic materials company’s stock, valued at approximately $11,926,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Leonteq Securities AG bought a new stake in Newmont in the fourth quarter valued at approximately $9,018,000. ARS Investment Partners LLC grew its holdings in shares of Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Newmont in the 2nd quarter valued at $36,180,000. Asset One Wealth Management LLC bought a new stake in shares of Newmont in the 2nd quarter valued at $2,866,000. Finally, Private Advisory Group LLC acquired a new stake in Newmont during the 2nd quarter worth $10,430,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $369,000.00. Following the completion of the transaction, the executive vice president owned 37,315 shares of the company’s stock, valued at approximately $4,589,745. This represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock worth $3,414,187 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $128.09 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $75.21 and a twelve month high of $135.29. The stock has a market capitalization of $134.97 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.80 and a beta of 0.52. The company has a 50 day moving average of $107.85 and a 200-day moving average of $109.65.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the company posted $1.43 earnings per share. As a group, equities research analysts forecast that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD boosted their target price on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. National Bank Financial decreased their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Barclays lowered their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

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.