Newmont Corporation $NEM Shares Bought by Waverton Investment Management Ltd

Waverton Investment Management Ltd raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 704,331 shares of the basic materials company’s stock after buying an additional 23,139 shares during the period. Newmont accounts for 0.8% of Waverton Investment Management Ltd’s portfolio, making the stock its 28th biggest position. Waverton Investment Management Ltd’s holdings in Newmont were worth $59,365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Newmont in the second quarter valued at about $919,170,000. Invesco Ltd. boosted its stake in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners grew its position in Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. LSV Asset Management acquired a new position in Newmont during the 2nd quarter valued at approximately $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 2.0%

Shares of NEM opened at $130.03 on Monday. The company has a market capitalization of $141.45 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.08 and a beta of 0.40. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88. The stock’s 50-day moving average price is $115.77 and its 200-day moving average price is $95.34. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the company posted $1.40 earnings per share. Newmont’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s payout ratio is currently 16.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NEM shares. The Goldman Sachs Group boosted their price objective on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Jefferies Financial Group increased their price objective on Newmont from $136.00 to $158.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Argus raised their price objective on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Raymond James Financial upped their target price on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, National Bank Financial raised their price target on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.73.

About Newmont

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.