Newmont Corporation $NEM Shares Acquired by Waterloo Capital L.P.

Key Points

• Waterloo Capital L.P. increased its Newmont stake by 230% in the fourth quarter, owning 14,369 shares worth about $1.44 million at quarter-end.
• Newmont reported strong quarterly results, with EPS of $2.90 versus estimates of $2.07 and revenue of $7.31 billion, up 45.8% year over year.
• The company declared a quarterly dividend of $0.26 per share and continues to draw bullish analyst coverage, with a consensus rating of Moderate Buy and a price target of $141.53.

Waterloo Capital L.P. lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 230.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,369 shares of the basic materials company's stock after acquiring an additional 10,015 shares during the quarter. Waterloo Capital L.P.'s holdings in Newmont were worth $1,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its holdings in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock worth $20,259,000 after buying an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock worth $30,775,000 after buying an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock worth $27,843,000 after buying an additional 183,360 shares in the last quarter. Waverton Investment Management Ltd boosted its holdings in Newmont by 3.4% during the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock worth $59,365,000 after buying an additional 23,139 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Newmont by 65.6% during the third quarter. Envestnet Asset Management Inc. now owns 741,861 shares of the basic materials company's stock worth $62,546,000 after buying an additional 293,901 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.2%

Shares of NYSE NEM opened at $109.60 on Monday. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The company has a market capitalization of $117.01 billion, a PE ratio of 14.22 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm's 50-day moving average is $110.89 and its two-hundred day moving average is $109.10.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is 13.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NEM shares. UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Bank of America boosted their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Argus boosted their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. TD boosted their price objective on shares of Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

Insider Activity

In related news, EVP Peter Wexler sold 13,378 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David John Thornton sold 2,296 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is currently owned by corporate insiders.

About Newmont

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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