Newmont Co. (NYSE:NEM) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Newmont Co. (NYSE:NEM) by 20.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,978 shares of the basic materials company’s stock after buying an additional 16,399 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Newmont were worth $5,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were 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 approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated 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 owns 311,469 shares in the company, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock valued at $3,434,640 over the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $48.36 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market cap of $55.06 billion, a PE ratio of -31.82, a P/E/G ratio of 0.40 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The stock has a fifty day moving average price of $53.33 and a 200 day moving average price of $46.99.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. Sell-side analysts forecast that Newmont Co. will post 3.13 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

Newmont 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.