Natixis Advisors LLC Purchases 49,859 Shares of Newmont Co. (NYSE:NEM)

Natixis Advisors LLC increased its position in shares of Newmont Co. (NYSE:NEM) by 70.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,787 shares of the basic materials company’s stock after buying an additional 49,859 shares during the quarter. Natixis Advisors LLC’s holdings in Newmont were worth $5,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new stake in Newmont during the 1st quarter worth about $25,000. Manchester Capital Management LLC raised its holdings in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares in the last quarter. Heritage Wealth Advisors boosted its position in Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Crewe Advisors LLC bought a new position in Newmont in the first quarter valued at approximately $35,000. Finally, Rise Advisors LLC increased its position in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 973 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 3.1 %

Shares of Newmont stock opened at $50.34 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $53.88. The stock has a market cap of $58.05 billion, a PE ratio of -18.85, a PEG ratio of 0.39 and a beta of 0.49. The firm has a 50-day moving average of $48.43 and a 200-day moving average of $42.06. 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 announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was up 64.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Co. will post 2.82 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. 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 1.99%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock valued at $2,744,700 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, August 29th. BMO Capital Markets upped their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their price target on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.