238,884 Shares in Newmont Corporation $NEM Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The firm bought 238,884 shares of the basic materials company’s stock, valued at approximately $22,312,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the period. BlackRock Inc. bought a new stake in shares of Newmont during the 2nd quarter valued at $11,289,753,000. State Street Corp raised its position in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the period. Van ECK Associates Corp lifted its stake in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 3.6%

Shares of NYSE NEM opened at $115.99 on Wednesday. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market cap of $122.22 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.31 and a beta of 0.47. The business’s 50 day moving average price is $99.71 and its 200-day moving average price is $108.70.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the business posted $1.43 earnings per share. On average, sell-side analysts expect that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is 13.13%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. National Bank Financial cut their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Citigroup lowered their price target on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group cut their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, Bank of America lowered their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.59.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,091 shares of company stock valued at $3,292,513 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont 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.