Newmont Corporation $NEM Shares Purchased by Eschler Asset Management LLP

Eschler Asset Management LLP boosted its holdings in Newmont Corporation (NYSE:NEM) by 75.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,000 shares of the basic materials company’s stock after buying an additional 75,000 shares during the quarter. Newmont makes up about 10.9% of Eschler Asset Management LLP’s holdings, making the stock its 2nd largest position. Eschler Asset Management LLP’s holdings in Newmont were worth $14,754,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NEM. Norges Bank acquired a new position in shares of Newmont during the 2nd quarter worth about $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares in the last quarter. Legal & General Group Plc lifted its stake in Newmont by 9.6% during the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock worth $687,223,000 after purchasing an additional 711,940 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Newmont by 33.8% during the third quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock worth $414,270,000 after purchasing an additional 1,244,845 shares during the last quarter. Finally, Boston Partners boosted its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM opened at $114.26 on Friday. The company’s 50 day simple moving average is $118.56 and its 200-day simple moving average is $98.06. The firm has a market cap of $124.30 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.39. Newmont Corporation has a 12-month low of $42.93 and a 12-month high of $134.88. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

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

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. This is a positive change from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. Newmont’s payout ratio is currently 16.28%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. Canaccord Genuity Group raised their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. TD Securities lowered their target price on shares of Newmont from $120.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, March 3rd. Argus increased their target price on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Raymond James Financial lifted their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Finally, Stifel Nicolaus boosted their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $134.15.

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.