Newmont Corporation $NEM Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 10.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,950,517 shares of the basic materials company’s stock after selling 1,637,400 shares during the quarter. Invesco Ltd.’s holdings in Newmont were worth $1,176,168,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake 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 valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP lifted its holdings in shares of 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 acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Newmont during the 2nd quarter worth $240,000. Allworth Financial LP increased its holdings in Newmont by 100.3% in the 2nd quarter. Allworth Financial LP now owns 12,090 shares of the basic materials company’s stock valued at $704,000 after purchasing an additional 6,053 shares in the last quarter. Finally, Nwam LLC increased its holdings in Newmont by 8.9% in the 2nd quarter. Nwam LLC now owns 6,501 shares of the basic materials company’s stock valued at $405,000 after purchasing an additional 531 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $114.26 on Friday. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The firm has a market capitalization of $124.30 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.90 and a beta of 0.39. The company’s fifty day moving average price is $118.56 and its two-hundred day moving average price is $98.06.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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 company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 EPS. On average, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The firm 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 $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Wall Street Analyst Weigh In

Several research analysts have commented on NEM shares. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Macquarie Infrastructure upped their target price on Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. 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. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Scotiabank upped their price target on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $134.15.

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.