Northwestern Mutual Wealth Management Co. Has $4.30 Million Holdings in Newmont Corporation $NEM

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Newmont Corporation by 333.0% during the 1st quarter, owning 89,037 shares valued at approximately $4.3 million.
• Newmont recently reported a quarterly earnings per share (EPS) of $1.43, surpassing analysts' expectations of $0.95, along with a revenue of $5.32 billion, which was higher than the anticipated $4.70 billion.
• The company declared a quarterly dividend of $0.25, with a yield of 1.4%, set to be paid on September 29 after the ex-dividend date on September 4.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 333.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,037 shares of the basic materials company's stock after buying an additional 68,473 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Newmont were worth $4,299,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after buying an additional 1,379 shares during the period. First Trust Advisors LP increased its holdings in Newmont by 9.9% during 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. Envestnet Portfolio Solutions Inc. bought a new position in Newmont during the 1st quarter worth about $423,000. Spire Wealth Management increased its holdings in Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Newmont during the 1st quarter worth about $202,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEM. Stifel Nicolaus began coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. CIBC set a $74.00 price objective on Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. UBS Group raised their price objective on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Scotiabank raised their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Stock Performance

Shares of NYSE:NEM opened at $72.44 on Thursday. The company's 50 day simple moving average is $63.29 and its 200 day simple moving average is $54.58. The stock has a market capitalization of $79.57 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.86 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 Corporation has a 1 year low of $36.86 and a 1 year high of $72.79.

Newmont (NYSE:NEM - Get Free Report) last announced 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 business had revenue of $5.32 billion for 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 quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. As a group, research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. 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 the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares in the company, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock valued at $1,373,251 over the last three months. 0.05% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.