Newmont Corporation (NYSE:NEM) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Newmont Corporation by 11.1%, owning 108,035 shares valued at $5.2 million as of the latest SEC filing.
• Newmont reported a net margin of 30.50% and earnings per share (EPS) of $1.43 for the last quarter, significantly surpassing analysts' expectations of $0.95.
• The company announced a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 1.6%.

Mackenzie Financial Corp raised its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 11.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,035 shares of the basic materials company's stock after buying an additional 10,775 shares during the period. Mackenzie Financial Corp's holdings in Newmont were worth $5,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Ipswich Investment Management Co. Inc. increased 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 worth $689,000 after purchasing an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Newmont by 64.0% in the 1st 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 period. HighPoint Advisor Group LLC boosted its position in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC increased its position in shares of Newmont by 8.5% in 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 in the last quarter. Finally, Twin Capital Management Inc. boosted its holdings 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 purchasing an additional 254 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NEM shares. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. CIBC set a $74.00 price target on Newmont and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,154 shares of company stock worth $572,889. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

Shares of Newmont stock traded up $2.83 during mid-day trading on Monday, reaching $65.42. 9,763,123 shares of the stock were exchanged, compared to its average volume of 13,063,871. The company has a market cap of $71.86 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. 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 Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $66.57. The firm has a 50-day simple moving average of $58.10 and a 200 day simple moving average of $51.42.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for 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 firm's revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

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.