GAMMA Investing LLC Acquires 3,264 Shares of Newmont Co. (NYSE:NEM)

GAMMA Investing LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 21.2% during the third quarter, Holdings Channel.com reports. The firm owned 18,630 shares of the basic materials company’s stock after buying an additional 3,264 shares during the period. GAMMA Investing LLC’s holdings in Newmont were worth $996,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NEM. Vanguard Group Inc. boosted its position in Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp boosted its position in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Legal & General Group Plc grew its stake in Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Newmont by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after buying an additional 313,736 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. UBS Group upped their price target on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price target for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Newmont Trading Down 0.7 %

Shares of NEM opened at $52.97 on Tuesday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $56.30. The stock has a market cap of $61.08 billion, a PE ratio of -19.84, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. The firm’s fifty day moving average is $51.51 and its two-hundred day moving average is $45.03. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Research analysts forecast that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Newmont’s dividend payout ratio is presently -37.45%.

Newmont Company 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.