Boston Partners Takes $5.35 Million Position in Newmont Corporation $NEM

Key Points

• Boston Partners invested approximately $5.35 million in Newmont Corporation by acquiring 110,794 shares, according to their recent SEC filing.
• Newmont reported a strong quarterly earnings with EPS of $1.43, surpassing estimates, and revenue of $5.32 billion, which was significantly above analyst expectations.
• The company has announced a quarterly dividend of $0.25, reflecting a 1.4% yield and a payout ratio of 17.95%!

Boston Partners purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 110,794 shares of the basic materials company's stock, valued at approximately $5,349,000.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares during the period. First Trust Advisors LP boosted its position in Newmont by 9.9% during the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after acquiring an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Newmont during the first quarter worth about $423,000. Spire Wealth Management boosted its position in Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Newmont during the first quarter worth about $202,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,246 shares of company stock valued at $1,373,251. Insiders own 0.05% of the company's stock.

Newmont Stock Down 2.4%

Shares of NYSE:NEM traded down $1.6540 during trading on Tuesday, hitting $67.3460. The company's stock had a trading volume of 7,861,849 shares, compared to its average volume of 10,464,895. The business has a 50 day moving average price of $61.61 and a two-hundred day moving average price of $53.54. The company has a market capitalization of $73.98 billion, a PE ratio of 12.09, a P/E/G ratio of 0.82 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Newmont's payout ratio is 17.95%.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. The Goldman Sachs Group restated a "neutral" rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. Scotiabank lifted their target price on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Raymond James Financial lifted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Royal Bank Of Canada lifted their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Four investment 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $64.58.

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.