Newmont Corporation (NYSE:NEM) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Newmont Corporation by 3.0%, acquiring an additional 38,069 shares, bringing its total to approximately 1,294,509 shares valued at $62,485,000.
• Newmont Corporation recently declared a quarterly dividend of $0.25 per share, with a payout ratio of 22.42%, to be distributed on September 29th.
• Several brokerages have upgraded Newmont's rating, with Cfra Research assigning a "strong-buy" rating and Stifel Nicolaus setting a price target of $73.00 for the stock.

TD Asset Management Inc grew its stake in Newmont Corporation (NYSE:NEM - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,294,509 shares of the basic materials company's stock after buying an additional 38,069 shares during the period. TD Asset Management Inc owned 0.12% of Newmont worth $62,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Bank of New York Mellon Corp grew 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 valued at $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp grew its position in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Invesco Ltd. lifted its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Newmont by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock worth $350,166,000 after buying an additional 1,331,278 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Newmont stock traded down $0.15 during trading hours on Thursday, reaching $62.16. 4,051,092 shares of the stock were exchanged, compared to its average volume of 12,152,542. The stock has a market cap of $68.28 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.78 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $66.57. The firm's 50 day moving average is $57.73 and its 200 day moving average is $50.97.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the prior year, the company posted $0.72 EPS. The business's revenue for the quarter was up 20.8% on a year-over-year basis. Analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm 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 is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. Newmont's payout ratio is 17.95%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,154 shares of company stock worth $572,889. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NEM shares. Raymond James Financial lifted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group boosted their price target on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

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.