Ritholtz Wealth Management bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,378 shares of the basic materials company's stock, valued at approximately $663,000.
Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Nuveen LLC purchased a new stake in shares of Newmont in the first quarter valued at $306,507,000. Pacer Advisors Inc. boosted its position in Newmont by 4,203.5% in the 1st 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 period. Assenagon Asset Management S.A. grew its stake in Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company's stock worth $273,391,000 after acquiring an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Newmont by 1,074.8% during 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 acquiring an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Newmont by 2,003.7% during 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 acquiring an additional 1,506,010 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.
Insider Transactions at Newmont
In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company's stock.
Newmont Stock Performance
Shares of NEM stock opened at $90.76 on Friday. The firm has a market cap of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.99 and a beta of 0.34. The company's 50 day moving average is $79.24 and its 200 day moving average is $64.08. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.
Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont's revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Newmont Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.
Analyst Ratings Changes
A number of equities analysts have recently commented on NEM shares. National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a research report on Monday, September 22nd. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the stock a "buy" rating in a research report on Sunday, October 12th. Stifel Nicolaus started coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Finally, 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 research report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.59.
Check Out Our Latest Stock Report on Newmont
Newmont Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

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