Newmont Corporation $NEM Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group boosted its position in shares of Newmont Corporation (NYSE:NEM) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 1,513,950 shares of the basic materials company’s stock after buying an additional 144,147 shares during the quarter. Schroder Investment Management Group’s holdings in Newmont were worth $88,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NEM. Mackenzie Financial Corp boosted its position in shares of Newmont by 300.7% in the 2nd quarter. Mackenzie Financial Corp now owns 432,916 shares of the basic materials company’s stock worth $25,222,000 after buying an additional 324,881 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Newmont by 38.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 332,847 shares of the basic materials company’s stock valued at $19,392,000 after purchasing an additional 93,300 shares in the last quarter. Virtus Investment Advisers LLC purchased a new stake in shares of Newmont in the second quarter valued at about $1,497,000. Norges Bank acquired a new stake in shares of Newmont in the second quarter valued at approximately $919,170,000. Finally, Quadrature Capital Ltd increased its stake in shares of Newmont by 56.5% during the 2nd quarter. Quadrature Capital Ltd now owns 134,902 shares of the basic materials company’s stock worth $7,858,000 after purchasing an additional 48,678 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. The trade was a 5.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $90.65 on Friday. The stock has a fifty day moving average price of $86.28 and a 200 day moving average price of $71.22. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The firm has a market capitalization of $98.93 billion, a P/E ratio of 14.08, a PEG ratio of 0.53 and a beta of 0.33. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.During the same period last year, the company earned $0.81 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. TD Securities upped their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. UBS Group lifted their price objective on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Buy” and an average target price of $91.20.

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.