Great Lakes Advisors LLC Purchases 41,430 Shares of Newmont Corporation $NEM

Great Lakes Advisors LLC boosted its position in shares of Newmont Corporation (NYSE:NEM) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 250,250 shares of the basic materials company’s stock after purchasing an additional 41,430 shares during the period. Great Lakes Advisors LLC’s holdings in Newmont were worth $24,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aviva PLC lifted its holdings in Newmont by 6.0% during the 4th quarter. Aviva PLC now owns 1,015,158 shares of the basic materials company’s stock valued at $101,364,000 after purchasing an additional 57,157 shares during the last quarter. Caerus Investment Advisors LLC raised its stake in shares of Newmont by 67.9% in the fourth quarter. Caerus Investment Advisors LLC now owns 11,167 shares of the basic materials company’s stock worth $1,115,000 after acquiring an additional 4,517 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in shares of Newmont in the fourth quarter worth about $209,000. Kovack Advisors Inc. bought a new position in shares of Newmont in the fourth quarter worth about $207,000. Finally, Qtron Investments LLC raised its stake in shares of Newmont by 63.5% in the fourth quarter. Qtron Investments LLC now owns 27,945 shares of the basic materials company’s stock worth $2,790,000 after acquiring an additional 10,853 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NEM shares. Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Bank of America boosted their target price on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Jefferies Financial Group boosted their price target on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

Newmont Trading Up 5.1%

NEM opened at $97.52 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a market cap of $104.11 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. The firm has a 50 day simple moving average of $111.21 and a 200 day simple moving average of $110.05. Newmont Corporation has a fifty-two week low of $54.14 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 49,950 shares of company stock valued at $5,494,288 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.