LGT Group Foundation Purchases 18,024 Shares of Newmont Co. (NYSE:NEM)

LGT Group Foundation grew its holdings in Newmont Co. (NYSE:NEM - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,809 shares of the basic materials company's stock after purchasing an additional 18,024 shares during the quarter. LGT Group Foundation's holdings in Newmont were worth $6,440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company's stock valued at $4,836,262,000 after buying an additional 16,190,422 shares during the period. Van ECK Associates Corp lifted its stake in shares of Newmont by 2.6% in 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 buying an additional 1,289,084 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Newmont by 29.9% in the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company's stock valued at $983,267,000 after buying an additional 5,475,155 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Newmont by 39.8% in 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 period. Finally, Norges Bank bought a new stake in shares of Newmont in the fourth quarter valued at about $604,516,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NEM shares. Cibc World Mkts upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 10th. BMO Capital Markets raised their price target 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. Argus upgraded shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. Scotiabank upgraded shares of Newmont from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.46.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, 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 the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,000 shares of company stock valued at $2,744,700. Company insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of Newmont stock traded up $0.41 during midday trading on Tuesday, reaching $51.13. The company had a trading volume of 3,533,477 shares, compared to its average volume of 10,496,269. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $58.67 billion, a price-to-earnings ratio of -19.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. The stock has a fifty day simple moving average of $48.61 and a 200 day simple moving average of $42.26. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $53.88.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share 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 during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the business posted $0.33 earnings per share. Newmont's revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, September 5th. Newmont's dividend payout ratio is presently -37.45%.

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.