WINTON GROUP Ltd Acquires New Stake in Newmont Corporation $NEM

Key Points

• WINTON GROUP Ltd established a new position in Newmont, buying 81,322 shares in the third quarter valued at approximately $6.86 million.
• Several analysts have lifted price targets and ratings on NEM, leaving the stock with a consensus Buy rating and a consensus target price of about $134.15.
• Newmont beat expectations with Q4 results (EPS $2.52 vs. $1.81 est., revenue $6.82B vs. $6.18B, revenue up 20.6% YoY) and increased its quarterly dividend to $0.26 ($1.04 annualized).

WINTON GROUP Ltd bought a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 81,322 shares of the basic materials company's stock, valued at approximately $6,856,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in 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 purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP raised its holdings in Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Newmont in the second quarter worth approximately $240,000. Atria Investments Inc bought a new position in shares of Newmont in the second quarter worth approximately $534,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Newmont during the second quarter valued at approximately $47,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NEM shares. Royal Bank Of Canada raised their price target on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Bank of America increased their target price on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. National Bank Financial lifted their target price on Newmont from $120.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Sunday. Finally, The Goldman Sachs Group increased their price objective on Newmont from $99.90 to $123.90 and gave the company a "buy" rating in a research report on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $134.15.

Newmont Trading Up 0.2%

Shares of NEM stock opened at $116.37 on Monday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12-month low of $42.03 and a 12-month high of $134.88. The stock has a market capitalization of $126.60 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.92 and a beta of 0.39. The firm's 50 day moving average is $117.25 and its 200 day moving average is $97.14.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company's quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. Research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. This is a boost from Newmont's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. Newmont's dividend payout ratio (DPR) is currently 16.28%.

Newmont Company Profile

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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