Lmcg Investments LLC grew its position in Newmont Co. (NYSE:NEM - Free Report) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,512 shares of the basic materials company's stock after acquiring an additional 15,049 shares during the quarter. Lmcg Investments LLC's holdings in Newmont were worth $10,824,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in NEM. Vanguard Group Inc. increased its holdings in shares of Newmont by 13.6% in 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 during the last quarter. Maj Invest Holding A S grew its stake in Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company's stock worth $143,502,000 after buying an additional 2,561,823 shares during the last quarter. Capital International Investors bought a new position in Newmont during the 1st quarter worth $49,444,000. Van ECK Associates Corp grew its stake in 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 buying an additional 1,289,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock worth $80,960,000 after buying an additional 1,096,905 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lowered 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 Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Raymond James boosted their price target on Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.85.
View Our Latest Analysis on NEM
Insider Buying and Selling at Newmont
In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's 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 transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 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 $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by company insiders.
Newmont Trading Down 0.4 %
Shares of NEM stock traded down $0.18 during trading hours on Friday, reaching $45.26. 11,048,999 shares of the stock traded hands, compared to its average volume of 10,748,931. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The business has a fifty day moving average price of $52.91 and a 200 day moving average price of $47.16. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $51.53 billion, a PE ratio of -29.78, a PEG ratio of 0.38 and a beta of 0.52.
Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm's revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts forecast that Newmont Co. will post 3.12 EPS for the current year.
Newmont Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.21%. Newmont's dividend payout ratio is presently -65.79%.
About Newmont
(
Free Report)
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.
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