Newmont Corporation $NEM Shares Acquired by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd has increased its stake in Newmont Corporation by 14.0%, now owning about 2.96 million shares worth approximately $172.53 million.
• Newmont reported a quarterly earnings per share (EPS) of $1.43, surpassing analysts’ expectations of $0.95, and had a substantial revenue of $5.32 billion for the quarter.
• The company declared a quarterly dividend of $0.25, resulting in an annualized dividend of $1.00 with a yield of 1.2%, indicating a payout ratio of 17.95%.

Ninety One UK Ltd increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,961,372 shares of the basic materials company's stock after acquiring an additional 362,825 shares during the period. Ninety One UK Ltd owned approximately 0.27% of Newmont worth $172,530,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the last quarter. Northern Trust Corp raised its holdings in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock valued at $624,458,000 after buying an additional 191,940 shares during the period. Amundi raised its holdings in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after buying an additional 343,535 shares during the period. Invesco Ltd. raised its holdings in Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after buying an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock valued at $423,572,000 after buying an additional 1,201,237 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 0.3%

NEM opened at $84.29 on Wednesday. The firm has a market capitalization of $92.59 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.98 and a beta of 0.34. The firm's 50 day moving average is $72.97 and its 200-day moving average is $60.37. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $87.93. 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 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont's payout ratio is 17.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NEM shares. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. The Goldman Sachs Group raised their price target on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a report on Thursday, September 11th. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. BNP Paribas Exane raised their price target on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Finally, Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.38.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction 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 approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,169 shares of company stock worth $955,286. Insiders own 0.05% of the company's stock.

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.

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