Acadian Asset Management LLC Has $2.26 Million Stake in Newmont Co. (NYSE:NEM)

Acadian Asset Management LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 150.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 53,917 shares of the basic materials company’s stock after acquiring an additional 32,404 shares during the quarter. Acadian Asset Management LLC’s holdings in Newmont were worth $2,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after acquiring an additional 36,170,995 shares during the last quarter. Norges Bank bought a new position in shares of Newmont in the fourth quarter valued at approximately $604,516,000. Bank of New York Mellon Corp boosted its position in shares of Newmont by 39.8% during the first 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 buying an additional 6,617,145 shares during the last quarter. Ruffer LLP grew its holdings in Newmont by 190.1% during the fourth quarter. Ruffer LLP now owns 6,100,822 shares of the basic materials company’s stock worth $252,482,000 after buying an additional 3,997,590 shares in the last quarter. Finally, Northern Trust Corp raised its position in Newmont by 25.9% in the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock valued at $537,594,000 after buying an additional 2,671,774 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Bank of America upped their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Newmont Price Performance

NEM opened at $53.71 on Friday. The company has a market capitalization of $61.63 billion, a price-to-earnings ratio of -20.12, a PEG 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. The firm has a 50-day moving average price of $49.32 and a 200-day moving average price of $42.70. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $54.25.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. Equities analysts expect that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.86%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock valued at $2,744,700 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

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.