Alliancebernstein L.P. Purchases 43,611 Shares of Newmont Corporation $NEM

Alliancebernstein L.P. increased its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,287,017 shares of the basic materials company's stock after purchasing an additional 43,611 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Newmont worth $62,137,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of NEM. Bessemer Group Inc. boosted its position in Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after acquiring an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Newmont during the 1st quarter worth approximately $423,000. Spire Wealth Management boosted its position in Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after acquiring an additional 1,309 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Newmont during the 1st quarter worth approximately $202,000. Finally, Two Sigma Investments LP boosted its position in Newmont by 51.9% during the 4th quarter. Two Sigma Investments LP now owns 1,808,687 shares of the basic materials company's stock worth $67,319,000 after acquiring an additional 618,366 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Newmont stock traded up $0.21 during mid-day trading on Tuesday, hitting $75.96. 10,445,168 shares of the company's stock traded hands, compared to its average volume of 8,021,443. The firm has a 50 day simple moving average of $66.30 and a two-hundred day simple moving average of $56.41. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $77.30. The stock has a market cap of $83.44 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.91 and a beta of 0.34. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm posted $0.72 EPS. The company's quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Nicolaus assumed coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Scotiabank boosted their target price on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Finally, Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $65.15.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the sale, the director directly owned 38,949 shares of the company's stock, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock valued at $1,253,559 in the last quarter. 0.05% of the stock is currently owned by insiders.

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.