652,510 Shares in Newmont Corporation $NEM Bought by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc has acquired 652,510 shares valued at approximately $38 million in Newmont Corporation, representing a 0.06% ownership stake.
• Several institutional investors, including Bank of New York Mellon Corp and Dimensional Fund Advisors LP, have also significantly increased their positions in Newmont during the first quarter.
• Newmont recently announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.1% and a payout ratio of 17.95%.

AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 652,510 shares of the basic materials company's stock, valued at approximately $38,009,000. AEGON ASSET MANAGEMENT UK Plc owned 0.06% of Newmont at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp boosted its position in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares during the period. Amundi boosted its position in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. boosted its position in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in 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 buying an additional 1,201,237 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on NEM. BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Stifel Nicolaus initiated coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $83.18.

Newmont Price Performance

NEM opened at $90.51 on Wednesday. The firm has a market cap of $99.42 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $91.24. The company's 50-day moving average price is $77.71 and its 200 day moving average price is $63.13. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.