Dimensional Fund Advisors LP Increases Position in Newmont Co. (NYSE:NEM)

Dimensional Fund Advisors LP raised its position in shares of Newmont Co. (NYSE:NEM) by 8.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,912,922 shares of the basic materials company’s stock after buying an additional 545,903 shares during the period. Dimensional Fund Advisors LP’s holdings in Newmont were worth $289,445,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. Meeder Asset Management Inc. purchased a new position in Newmont during the 2nd quarter valued at about $27,000. LRI Investments LLC purchased a new position in shares of Newmont in the first quarter valued at approximately $25,000. Heritage Wealth Advisors grew its holdings in shares of Newmont by 1,310.4% in 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 in the last quarter. Crewe Advisors LLC purchased a new stake in Newmont during the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC lifted its holdings in 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 buying an additional 973 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 0.0 %

Shares of Newmont stock opened at $53.11 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $49.69 and a 200-day simple moving average of $43.18. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of -19.89, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $54.25.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Newmont’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities analysts forecast that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’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 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 legal filing with the SEC, which is accessible through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,000 shares of company stock worth $2,744,700. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several research reports. UBS Group boosted their price target on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, Jefferies Financial Group raised their target price on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $52.62.

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.