Schroder Investment Management Group Raises Holdings in Newmont Corporation $NEM

Schroder Investment Management Group increased its position in Newmont Corporation (NYSE:NEM) by 10.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,513,950 shares of the basic materials company’s stock after purchasing an additional 144,147 shares during the period. Schroder Investment Management Group owned 0.14% of Newmont worth $88,203,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NEM. Norges Bank purchased a new position in Newmont during the 2nd quarter worth approximately $919,170,000. Northern Trust Corp boosted its holdings in shares of Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi boosted its holdings in shares of Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after acquiring an additional 343,535 shares during the period. Invesco Ltd. grew its position in shares of Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after acquiring an additional 228,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after acquiring an additional 1,201,237 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Raymond James Financial set a $99.00 price target on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, TD Securities boosted their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $91.20.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,237 shares of company stock worth $906,799. Company insiders own 0.05% of the company’s stock.

Newmont Stock Up 0.1%

Shares of Newmont stock opened at $90.65 on Friday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company has a market cap of $98.93 billion, a P/E ratio of 14.08, a PEG ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm has a fifty day moving average of $86.28 and a two-hundred day moving average of $71.22.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Newmont Company Profile

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.