Newmont Corporation $NEM Shares Bought by Eschler Asset Management LLP

Eschler Asset Management LLP grew its stake in Newmont Corporation (NYSE:NEM) by 75.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,000 shares of the basic materials company’s stock after purchasing an additional 75,000 shares during the period. Newmont makes up approximately 10.9% of Eschler Asset Management LLP’s portfolio, making the stock its 2nd biggest holding. Eschler Asset Management LLP’s holdings in Newmont were worth $14,754,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Physician Wealth Advisors Inc. grew its position in Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Newmont during the 3rd quarter worth $44,000. Capital A Wealth Management LLC lifted its stake in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 478 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Newmont in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $114.26 on Friday. The company has a market capitalization of $124.30 billion, a PE ratio of 17.88, a P/E/G ratio of 0.90 and a beta of 0.39. Newmont Corporation has a 52-week low of $42.93 and a 52-week high of $134.88. The company has a 50-day simple moving average of $118.56 and a 200-day simple moving average of $98.06. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a $0.26 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 16.28%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.