Wellington Management Group LLP Invests $11.93 Million in Newmont Corporation $NEM

Wellington Management Group LLP bought a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 570,631 shares of the basic materials company’s stock, valued at approximately $11,926,000. Wellington Management Group LLP owned approximately 0.05% of Newmont as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP lifted its holdings in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Newmont during the 2nd quarter valued at about $240,000. Cerity Partners LLC boosted its position in Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,091 shares of company stock valued at $3,414,187. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. Bank of America dropped their price objective on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. BMO Capital Markets decreased their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. National Bank Financial dropped their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective on shares of Newmont in a research report on Monday, August 24th. Finally, TD boosted their price objective on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

Newmont Stock Performance

Shares of NYSE NEM opened at $128.09 on Tuesday. Newmont Corporation has a 1-year low of $75.21 and a 1-year high of $135.29. The company has a market cap of $134.97 billion, a PE ratio of 16.17, a P/E/G ratio of 1.80 and a beta of 0.52. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $107.85 and a two-hundred day moving average of $109.65.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm earned $1.43 earnings per share. As a group, equities analysts expect that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Newmont 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.