TCW Group Inc. Buys 902 Shares of Newmont Corporation (NYSE:NEM)

TCW Group Inc. lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 5.6% in the first quarter, Holdings Channel.com reports. The fund owned 16,871 shares of the basic materials company’s stock after purchasing an additional 902 shares during the quarter. TCW Group Inc.’s holdings in Newmont were worth $815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ipswich Investment Management Co. Inc. lifted its holdings in shares of Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock worth $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. lifted its holdings in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC lifted its holdings in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 219 shares during the period. Finally, Twin Capital Management Inc. lifted its holdings in shares of Newmont by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company’s stock worth $1,873,000 after acquiring an additional 254 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president owned 74,526 shares of the company’s stock, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Down 3.1%

NEM opened at $63.71 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $70.91 billion, a PE ratio of 11.44, a PEG ratio of 0.96 and a beta of 0.33. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $66.57. The firm has a 50-day moving average price of $57.31 and a two-hundred day moving average price of $50.80.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s dividend payout ratio is 17.95%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Royal Bank Of Canada increased their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. Finally, Raymond James Financial increased their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.58.

Newmont 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.