Newmont Corporation $NEM Shares Bought by DRW Securities LLC

Key Points

• DRW Securities LLC significantly increased its position in Newmont Corporation by 1,294.5% during the first quarter, acquiring 106,710 shares valued at approximately $5.1 million.
• Newmont announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.3%, set to be paid on September 29th.
• Analysts have upgraded their ratings and raised price targets for Newmont, with a consensus target price of $64.58, reflecting a generally positive outlook on the stock.

DRW Securities LLC grew its position in Newmont Corporation (NYSE:NEM - Free Report) by 1,294.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,710 shares of the basic materials company's stock after buying an additional 99,058 shares during the period. DRW Securities LLC's holdings in Newmont were worth $5,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after purchasing an additional 8,678 shares in the last quarter. Lido Advisors LLC grew its stake in Newmont by 17.8% during the 4th quarter. Lido Advisors LLC now owns 9,821 shares of the basic materials company's stock worth $366,000 after buying an additional 1,481 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Newmont during the 4th quarter worth $316,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Newmont by 8.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 205,247 shares of the basic materials company's stock valued at $7,639,000 after buying an additional 15,295 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada increased their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Macquarie reiterated a "neutral" rating and issued a $72.00 target price on shares of Newmont in a research note on Monday. Raymond James Financial boosted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.15.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the sale, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The transaction 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 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 transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,169 shares of company stock valued at $1,098,636. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NYSE:NEM traded up $1.44 during midday trading on Tuesday, hitting $75.84. The company's stock had a trading volume of 15,171,624 shares, compared to its average volume of 7,802,743. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $76.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market cap of $83.31 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.88 and a beta of 0.34. The firm's 50 day moving average is $64.56 and its 200-day moving average is $55.41.

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

Newmont Announces Dividend

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. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio 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.