GQG Partners LLC bought a new position in shares of Newmont Co. (NYSE:NEM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,026,350 shares of the basic materials company’s stock, valued at approximately $255,116,000. GQG Partners LLC owned 0.50% of Newmont at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in Newmont by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 39,930,538 shares of the basic materials company’s stock worth $2,530,797,000 after acquiring an additional 253,225 shares during the period. FMR LLC increased its holdings in Newmont by 25.7% during the 2nd quarter. FMR LLC now owns 22,226,291 shares of the basic materials company’s stock worth $1,408,701,000 after acquiring an additional 4,545,415 shares during the period. Deutsche Bank AG increased its holdings in Newmont by 3.5% during the 2nd quarter. Deutsche Bank AG now owns 20,487,134 shares of the basic materials company’s stock worth $1,298,473,000 after acquiring an additional 700,182 shares during the period. First Eagle Investment Management LLC increased its holdings in Newmont by 0.5% during the 1st quarter. First Eagle Investment Management LLC now owns 18,462,145 shares of the basic materials company’s stock worth $1,112,713,000 after acquiring an additional 95,801 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Newmont by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,730,827 shares of the basic materials company’s stock worth $616,739,000 after acquiring an additional 99,171 shares during the period. 77.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Thomas Ronald Palmer sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $54.65, for a total value of $382,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Blake Rhodes sold 500 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $58.10, for a total transaction of $29,050.00. Following the completion of the sale, the senior vice president now directly owns 48,726 shares of the company’s stock, valued at $2,830,980.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,588 shares of company stock valued at $1,177,877 in the last three months. 0.12% of the stock is currently owned by corporate insiders.
Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 29.6% on a year-over-year basis. On average, equities research analysts anticipate that Newmont Co. will post 3.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Thursday, September 9th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, September 8th. This represents a $2.20 annualized dividend and a yield of 3.82%. Newmont’s payout ratio is currently 82.71%.
NEM has been the topic of a number of research analyst reports. KeyCorp initiated coverage on shares of Newmont in a report on Friday, September 24th. They issued a “sector weight” rating on the stock. Raymond James decreased their price target on shares of Newmont from $81.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday. Canaccord Genuity decreased their price target on shares of Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, July 23rd. National Bank Financial decreased their price target on shares of Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a report on Friday, July 16th. Finally, UBS Group set a $64.00 price target on shares of Newmont and gave the stock a “neutral” rating in a report on Friday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Hold” and an average price target of $72.00.
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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