Newmont Co. (NYSE:NEM) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Newmont Co. (NYSE:NEM) by 18.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,838 shares of the basic materials company’s stock after acquiring an additional 12,597 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Newmont were worth $3,385,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NEM. Vanguard Group Inc. raised its position in Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after purchasing an additional 36,170,995 shares during the last quarter. Northern Trust Corp grew its stake in shares of Newmont by 25.9% during the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after purchasing an additional 2,671,774 shares during the period. Maj Invest Holding A S grew its stake in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the period. Capital Research Global Investors grew its stake in shares of Newmont by 275.0% during the 4th quarter. Capital Research Global Investors now owns 3,000,000 shares of the basic materials company’s stock worth $124,170,000 after purchasing an additional 2,200,000 shares during the period. Finally, Capital International Investors purchased a new stake in shares of Newmont in the first quarter valued at about $49,444,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Bank of America increased their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and raised their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.62.

Newmont Price Performance

Shares of NEM stock opened at $53.90 on Monday. The firm has a market cap of $62.15 billion, a P/E ratio of -20.19, a P/E/G ratio of 0.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $56.30. The firm has a fifty day moving average of $50.84 and a two-hundred day moving average of $44.34.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 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 business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the business posted $0.33 EPS. The company’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, research analysts anticipate that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. The disclosure for this sale can be found here. Insiders sold 43,000 shares of company stock valued at $2,197,010 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.