Newmont Co. (NYSE:NEM) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC increased its position in Newmont Co. (NYSE:NEM) by 18.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,030 shares of the basic materials company’s stock after purchasing an additional 2,217 shares during the period. Ballentine Partners LLC’s holdings in Newmont were worth $587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Newmont by 29.9% in the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after purchasing an additional 5,475,155 shares during the period. Bank of New York Mellon Corp increased its stake in Newmont by 39.8% during the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after purchasing an additional 6,617,145 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Newmont during the fourth quarter worth $604,516,000. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of a number of recent research reports. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $48.00 to $59.00 in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $50.00 in a report on Monday, June 17th. Sanford C. Bernstein reduced their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. Finally, BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NEM opened at $51.30 on Wednesday. The firm has a market capitalization of $58.86 billion, a price-to-earnings ratio of -19.21, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. The stock’s fifty day moving average is $48.80 and its 200-day moving average is $42.41. Newmont Co. has a one year low of $29.42 and a one year high of $53.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Equities analysts anticipate that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.95%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Newmont 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.