Aquatic Capital Management LLC Invests $4.65 Million in Newmont Corporation $NEM

Aquatic Capital Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 55,137 shares of the basic materials company’s stock, valued at approximately $4,649,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in Newmont during the second quarter worth about $919,170,000. Invesco Ltd. raised its holdings in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock worth $687,223,000 after buying an additional 711,940 shares in the last quarter. Boston Partners lifted its position in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after buying an additional 2,288,653 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Newmont by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock valued at $414,270,000 after buying an additional 1,244,845 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $110.19 on Tuesday. Newmont Corporation has a 52 week low of $42.93 and a 52 week high of $134.88. The stock has a market capitalization of $119.87 billion, a PE ratio of 17.24, a PEG ratio of 0.85 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock’s fifty day moving average is $118.86 and its 200-day moving average is $98.95.

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

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a $0.26 dividend. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s payout ratio is presently 16.28%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of analyst reports. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Citigroup upped 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. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $134.15.

Newmont Company 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.