Hussman Strategic Advisors Inc. Purchases 255,000 Shares of Newmont Corporation (NYSE:NEM)

Hussman Strategic Advisors Inc. lifted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 500.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,000 shares of the basic materials company's stock after acquiring an additional 255,000 shares during the period. Newmont makes up 3.6% of Hussman Strategic Advisors Inc.'s portfolio, making the stock its 2nd largest holding. Hussman Strategic Advisors Inc.'s holdings in Newmont were worth $14,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NEM. Geode Capital Management LLC raised its holdings in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank bought a new position in Newmont during the 4th quarter worth $626,074,000. Bank of New York Mellon Corp increased its position in shares of Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp increased its position in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Invesco Ltd. boosted its stake in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Up 0.5%

Shares of NYSE:NEM traded up $0.27 during trading on Friday, reaching $58.26. 2,435,925 shares of the company traded hands, compared to its average volume of 10,766,600. The business's fifty day moving average is $55.74 and its 200-day moving average is $49.49. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $61.17. The firm has a market capitalization of $64.84 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.66 and a beta of 0.33. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the company earned $0.55 EPS. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NEM shares. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. CIBC set a $74.00 price target on Newmont and gave the company a "neutral" rating in a research note on Tuesday. UBS Group lifted their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada raised their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.49.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,231 shares of company stock worth $679,813. Corporate insiders own 0.05% of the company's stock.

About Newmont

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.

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