Brandywine Global Investment Management LLC Has $71.19 Million Position in Newmont Corporation $NEM

Brandywine Global Investment Management LLC decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 713,007 shares of the basic materials company’s stock after selling 13,343 shares during the period. Brandywine Global Investment Management LLC’s holdings in Newmont were worth $71,194,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NEM. CWM LLC grew its stake in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd raised its position in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 3.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock worth $59,365,000 after buying an additional 23,139 shares during the period. Finally, Leonteq Securities AG bought a new position in shares of Newmont during the 4th quarter worth $9,018,000. 68.85% of the stock is owned by institutional investors.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NEM shares. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Citigroup increased their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. TD raised their target price on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $142.07.

Insider Activity

In other news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,950 shares of company stock worth $5,494,288 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $99.77 on Monday. The company has a market capitalization of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.65 and a beta of 0.42. The company has a 50-day simple moving average of $111.70 and a two-hundred day simple moving average of $109.71. Newmont Corporation has a one year low of $52.08 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Research analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

About Newmont

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.