Wellington Management Group LLP Raises Position in Newmont Co. (NYSE:NEM)

Wellington Management Group LLP increased its holdings in Newmont Co. (NYSE:NEM) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,110 shares of the basic materials company’s stock after buying an additional 2,877 shares during the period. Wellington Management Group LLP’s holdings in Newmont were worth $6,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC raised its position in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank purchased a new stake in Newmont during the fourth quarter valued at about $626,074,000. Northern Trust Corp raised its position in Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after purchasing an additional 1,309,177 shares in the last quarter. Finally, Amundi raised its position in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NEM shares. Scotiabank restated a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and raised their price target for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Cfra Research upgraded Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $56.52.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now owns 47,257 shares in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $55.41 on Wednesday. The stock’s 50 day simple moving average is $51.81 and its two-hundred day simple moving average is $45.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market cap of $61.67 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Newmont’s payout ratio is currently 22.42%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.