Ensign Peak Advisors Inc Acquires 175,424 Shares of Newmont Co. (NYSE:NEM)

Ensign Peak Advisors Inc raised its stake in Newmont Co. (NYSE:NEM) by 112.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,167 shares of the basic materials company’s stock after acquiring an additional 175,424 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Newmont were worth $13,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Trail Advisors LLC lifted its stake in shares of Newmont by 78.5% in the 2nd quarter. Summit Trail Advisors LLC now owns 29,261 shares of the basic materials company’s stock valued at $1,225,000 after acquiring an additional 12,867 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Newmont by 18.5% in the second quarter. Thrivent Financial for Lutherans now owns 80,838 shares of the basic materials company’s stock valued at $3,385,000 after purchasing an additional 12,597 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in shares of Newmont during the second quarter valued at about $6,994,000. Sei Investments Co. grew its holdings in shares of Newmont by 26.8% during the second quarter. Sei Investments Co. now owns 258,572 shares of the basic materials company’s stock worth $10,826,000 after purchasing an additional 54,713 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Newmont by 1.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 229,147 shares of the basic materials company’s stock valued at $9,594,000 after buying an additional 3,700 shares during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. UBS Group increased their price target on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group lifted their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $52.62.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock worth $2,744,700. Insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.0 %

Shares of NYSE:NEM opened at $54.48 on Tuesday. The firm has a market cap of $62.82 billion, a P/E ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $55.67. The business’s 50 day simple moving average is $50.25 and its two-hundred day simple moving average is $43.76. 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 quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating 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 business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the business posted $0.33 EPS. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, research analysts forecast that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.84%. Newmont’s payout ratio is -37.45%.

Newmont 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.