Newmont Corporation (NYSE:NEM) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in Newmont Corporation (NYSE:NEM - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,117 shares of the basic materials company's stock after purchasing an additional 35,673 shares during the quarter. Los Angeles Capital Management LLC's holdings in Newmont were worth $12,076,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NEM. Bessemer Group Inc. raised its position in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after buying an additional 1,379 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Newmont by 9.9% in the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after acquiring an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Newmont in the first quarter worth $423,000. Spire Wealth Management boosted its holdings in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock valued at $2,511,000 after purchasing an additional 59,740 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 2.9%

NYSE NEM traded up $1.67 on Monday, hitting $59.86. 11,228,446 shares of the company were exchanged, compared to its average volume of 10,842,820. The company's 50 day moving average price is $55.83 and its 200-day moving average price is $49.80. The firm has a market capitalization of $66.62 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.65 and a beta of 0.33. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $61.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.67%. Newmont's dividend payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NEM shares. CIBC set a $74.00 target price on Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. UBS Group increased their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada boosted their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $62.49.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,231 shares of company stock valued at $679,813. Corporate insiders own 0.05% of the company's stock.

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.