Liontrust Investment Partners LLP Purchases 62,257 Shares of Newmont Corporation $NEM

Key Points

• Liontrust Investment Partners LLP increased its holdings in Newmont Corporation by 24.8% in the first quarter, now owning 313,496 shares valued at approximately $15.1 million.
• Newmont reported quarterly earnings of $1.43 per share, significantly surpassing analysts' expectations of $0.95, along with a 20.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.25 per share, resulting in a 1.5% dividend yield, scheduled to be paid on September 29th.

Liontrust Investment Partners LLP grew its stake in Newmont Corporation (NYSE:NEM - Free Report) by 24.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,496 shares of the basic materials company's stock after purchasing an additional 62,257 shares during the period. Liontrust Investment Partners LLP's holdings in Newmont were worth $15,136,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Newmont in the fourth quarter valued at $35,117,000. Townsquare Capital LLC raised its stake in shares of Newmont by 31.4% during the 4th quarter. Townsquare Capital LLC now owns 30,613 shares of the basic materials company's stock worth $1,139,000 after buying an additional 7,314 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $244,000. Finally, Mariner LLC lifted its stake in Newmont by 2.3% in the 4th quarter. Mariner LLC now owns 650,538 shares of the basic materials company's stock valued at $24,213,000 after buying an additional 14,830 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NEM. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research note on Tuesday, July 8th. Stifel Nicolaus initiated coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Insiders Place Their Bets

In related news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 58,736 shares in the company, 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. Over the last quarter, insiders have sold 22,246 shares of company stock valued at $1,373,251. 0.05% of the stock is currently owned by insiders.

Newmont Stock Down 2.4%

NEM traded down $1.6540 during trading on Tuesday, reaching $67.3460. 7,766,088 shares of the stock traded hands, compared to its average volume of 11,876,113. The stock's 50-day simple moving average is $61.31 and its two-hundred day simple moving average is $53.44. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29. The stock has a market cap 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 debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. As a group, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business 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 $0.25 dividend. 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 dividend payout ratio is presently 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.