TD Asset Management Inc Acquires 69,882 Shares of Newmont Corporation $NEM

TD Asset Management Inc lifted its stake in Newmont Corporation (NYSE:NEM) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,341,284 shares of the basic materials company’s stock after purchasing an additional 69,882 shares during the quarter. TD Asset Management Inc owned about 0.12% of Newmont worth $113,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its holdings in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Newmont in the 3rd quarter worth about $44,000. Capital A Wealth Management LLC boosted its stake in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares in the last quarter. Finally, Caldwell Trust Co purchased a new stake in Newmont during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.5%

Shares of Newmont stock opened at $124.76 on Thursday. Newmont Corporation has a twelve month low of $41.23 and a twelve month high of $134.88. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $114.64 and its 200 day moving average is $94.32. The company has a market cap of $135.72 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.06 and a beta of 0.40.

Newmont (NYSE:NEM) 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 anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a $0.26 dividend. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s dividend payout ratio is currently 15.65%.

Analyst Ratings Changes

Several brokerages have issued reports on NEM. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Citigroup reissued a “buy” rating on shares of Newmont in a research report on Monday, January 12th. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. UBS Group reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Newmont in a research report on Friday, January 30th. Finally, Canaccord Genuity Group increased their target price on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.88.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

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.