Newmont Co. (NYSE:NEM) Shares Purchased by MGO One Seven LLC

MGO One Seven LLC boosted its position in Newmont Co. (NYSE:NEM) by 8.5% in the 2nd quarter, Holdings Channel reports. The firm owned 52,932 shares of the basic materials company’s stock after acquiring an additional 4,139 shares during the quarter. MGO One Seven LLC’s holdings in Newmont were worth $2,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Newmont by 43.8% in the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after buying an additional 36,170,995 shares during the last quarter. Norges Bank purchased a new stake in Newmont during the 4th quarter valued at about $604,516,000. Bank of New York Mellon Corp raised its holdings in Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after acquiring an additional 6,617,145 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Newmont by 29.9% in the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after purchasing an additional 5,475,155 shares in the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Newmont by 190.1% during the 4th quarter. Ruffer LLP now owns 6,100,822 shares of the basic materials company’s stock worth $252,482,000 after purchasing an additional 3,997,590 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEM shares. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their price target on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $50.00 in a report on Monday, June 17th. BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America increased their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $2,744,700 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.1 %

NYSE:NEM opened at $50.74 on Thursday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $53.88. The stock’s fifty day moving average is $48.95 and its two-hundred day moving average is $42.46. The stock has a market capitalization of $58.51 billion, a price-to-earnings ratio of -19.00, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. 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 earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. Research analysts anticipate that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.