687,378 Shares in Newmont Corporation $NEM Acquired by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC acquired 687,378 shares of Newmont Corporation, valued at approximately $33.2 million, during the first quarter of the year.
• Newmont reported earnings of $1.43 per share for the last quarter, exceeding analysts' expectations by $0.48, with revenue also surpassing estimates at $5.32 billion.
• The company declared a quarterly dividend of $0.25, with a dividend yield of 1.4%, payable on September 29th to shareholders of record as of September 4th.

Brandywine Global Investment Management LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 687,378 shares of the basic materials company's stock, valued at approximately $33,187,000. Brandywine Global Investment Management LLC owned about 0.06% of Newmont at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NEM. Hemington Wealth Management lifted its position in shares of Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its holdings in Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in shares of 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 during the last quarter. Rothschild Investment LLC grew its position in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after acquiring an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. grew its position in shares of Newmont by 0.7% during the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM traded down $1.6540 during midday trading on Tuesday, hitting $67.3460. 7,861,849 shares of the stock were exchanged, compared to its average volume of 11,887,684. The stock has a market cap of $73.98 billion, a P/E ratio of 12.09, a PEG ratio of 0.82 and a beta of 0.30. The company has a 50 day moving average price of $61.31 and a 200-day moving average price of $53.44. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $70.29. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont's payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the sale, the director owned 41,026 shares in the company, valued at $2,611,715.16. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock worth $1,373,251 in the last 90 days. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank raised their target price on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. UBS Group raised their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Royal Bank Of Canada raised their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $64.58.

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.