Newmont Corporation $NEM Stock Holdings Raised by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC grew its position in shares of Newmont Corporation (NYSE:NEM) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,907 shares of the basic materials company’s stock after buying an additional 2,390 shares during the quarter. Newmont accounts for 2.8% of Glass Wealth Management Co LLC’s portfolio, making the stock its 9th largest position. Glass Wealth Management Co LLC’s holdings in Newmont were worth $5,180,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEM. Nuveen LLC purchased a new stake in shares of Newmont during the first quarter valued at approximately $306,507,000. Pacer Advisors Inc. grew its holdings in shares of Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after buying an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.5%

Shares of Newmont stock opened at $86.86 on Monday. The company’s fifty day simple moving average is $74.37 and its 200-day simple moving average is $61.27. The stock has a market capitalization of $95.41 billion, a PE ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $87.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s payout ratio is 17.95%.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NEM shares. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Saturday, September 27th. BNP Paribas Exane raised their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Finally, UBS Group raised their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Newmont Company Profile

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.