Dimensional Fund Advisors LP Boosts Holdings in Newmont Corporation $NEM

Key Points

• Dimensional Fund Advisors LP increased its stake in Newmont Corporation by 15.9% during the 1st quarter, owning 8,772,477 shares worth approximately $423.57 million.
• Newmont reported an EPS of $1.43 and $5.32 billion in revenue for the last quarter, significantly exceeding analyst expectations and marking a year-over-year revenue increase of 20.8%.
• The company declared a quarterly dividend of $0.25, payable on September 29th, representing an annualized dividend of $1.00 with a yield of 1.4%.

Dimensional Fund Advisors LP grew its position in Newmont Corporation (NYSE:NEM - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,772,477 shares of the basic materials company's stock after buying an additional 1,201,237 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.79% of Newmont worth $423,572,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Hemington Wealth Management grew its stake in shares of Newmont by 25.2% during the first 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 period. Ipswich Investment Management Co. Inc. boosted its position 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 valued at $689,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares in the last quarter. Rothschild Investment LLC increased its stake in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its holdings in shares of Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after buying an additional 254 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock worth $1,373,251 in the last quarter. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. CIBC set a $74.00 target price on shares of Newmont and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. Raymond James Financial increased their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Stifel Canada raised Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Price Performance

NEM traded down $1.6540 during midday trading on Tuesday, reaching $67.3460. 7,861,849 shares of the company's stock were exchanged, compared to its average volume of 11,887,684. Newmont Corporation has a one year low of $36.86 and a one year high of $70.29. The business has a 50-day simple moving average of $61.31 and a two-hundred day simple moving average of $53.44. The firm has a market capitalization of $73.98 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. 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 results 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 company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont's payout ratio is currently 17.95%.

Newmont 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.