Gamco Investors INC. ET AL Has $59.55 Million Position in Newmont Corporation $NEM

Gamco Investors INC. ET AL raised its position in Newmont Corporation (NYSE:NEM) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 596,345 shares of the basic materials company’s stock after purchasing an additional 19,857 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Newmont were worth $59,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP raised its position in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Newmont in the second quarter valued at about $240,000. Cerity Partners LLC raised its position in shares of Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David John Thornton sold 2,296 shares of the firm’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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.1%

Shares of Newmont stock opened at $108.93 on Monday. The company has a market capitalization of $116.29 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.52 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $48.61 and a 12-month high of $134.88. The firm’s 50-day moving average price is $111.96 and its two-hundred day moving average price is $107.24.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for 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%. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders 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 yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. TD Securities reissued a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. Stifel Nicolaus increased their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Jefferies Financial Group increased their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

About Newmont

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.