6,348,534 Shares in Newmont Corporation (NYSE:NEM) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Newmont Corporation, purchasing over 6.3 million shares valued at approximately $306.5 million, representing about 0.57% ownership of the company.
• Newmont recently reported quarterly earnings with an EPS of $1.43, surpassing analyst expectations by $0.48 and achieving a revenue of $5.32 billion, up 20.8% from the previous year.
• The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 1.5%, and is noted for having a dividend payout ratio of 17.95%.

Nuveen LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,348,534 shares of the basic materials company's stock, valued at approximately $306,507,000. Nuveen LLC owned 0.57% of Newmont at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hemington Wealth Management boosted its holdings in shares of Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after buying an additional 194 shares in the last quarter. Ipswich Investment Management Co. Inc. boosted its holdings in shares of Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after buying an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after buying 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 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 254 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NEM traded up $0.04 during midday trading on Tuesday, hitting $68.91. 5,880,427 shares of the company traded hands, compared to its average volume of 12,847,742. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $75.69 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The company's 50-day moving average is $60.11 and its 200 day moving average is $52.62. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont's dividend payout ratio is currently 17.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEM. Raymond James Financial boosted their target price on shares of Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Royal Bank Of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Finally, Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the transaction, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,246 shares of company stock worth $1,373,251. Company insiders own 0.05% of the company's stock.

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.