Invesco Ltd. Has $391.57 Million Stake in Newmont Co. (NYSE:NEM)

Invesco Ltd. grew its holdings in Newmont Co. (NYSE:NEM - Free Report) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,520,354 shares of the basic materials company's stock after acquiring an additional 2,028,150 shares during the quarter. Invesco Ltd. owned 0.92% of Newmont worth $391,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC increased its holdings in shares of Newmont by 58.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,851 shares of the basic materials company's stock worth $794,000 after purchasing an additional 5,489 shares during the period. MML Investors Services LLC raised its holdings in Newmont by 5.8% in the 3rd quarter. MML Investors Services LLC now owns 104,301 shares of the basic materials company's stock valued at $5,575,000 after acquiring an additional 5,695 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Newmont by 6.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 344,328 shares of the basic materials company's stock worth $18,404,000 after acquiring an additional 19,366 shares during the period. Vestcor Inc grew its holdings in shares of Newmont by 11.3% during the 3rd quarter. Vestcor Inc now owns 23,136 shares of the basic materials company's stock worth $1,237,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Newmont by 1.4% during the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company's stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average target price of $54.55.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NEM stock traded down $0.01 during trading hours on Monday, hitting $54.96. 5,463,009 shares of the company's stock were exchanged, compared to its average volume of 9,791,906. Newmont Co. has a 52 week low of $36.60 and a 52 week high of $58.72. The stock has a market cap of $61.95 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock's 50-day moving average is $46.17 and its 200-day moving average is $44.97.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is presently 34.13%.

About Newmont

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.