Newmont Co. (NYSE:NEM) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its position in Newmont Co. (NYSE:NEM) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 235,626 shares of the basic materials company’s stock after purchasing an additional 7,191 shares during the quarter. IFM Investors Pty Ltd’s holdings in Newmont were worth $12,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. lifted its position in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after buying an additional 16,190,422 shares during the period. Van ECK Associates Corp increased its stake in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after acquiring an additional 109,084 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after acquiring an additional 313,736 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NEM. UBS Group upped their price target on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.46.

Newmont Stock Down 14.7 %

NYSE NEM opened at $49.25 on Friday. The stock has a market cap of $56.51 billion, a PE ratio of -23.23, a P/E/G ratio of 0.49 and a beta of 0.50. The business has a 50 day moving average price of $53.43 and a two-hundred day moving average price of $46.74. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Co. will post 3.07 EPS for the current fiscal year.

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.