Manning & Napier Advisors LLC Acquires New Shares in Newmont Corporation $NEM

Manning & Napier Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,764 shares of the basic materials company’s stock, valued at approximately $734,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust grew its holdings in shares of Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 96 shares during the last quarter. Coston McIsaac & Partners raised its holdings in Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Newmont by 6.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock worth $164,000 after buying an additional 100 shares during the period. Blue Trust Inc. boosted its position in Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock worth $1,861,000 after buying an additional 100 shares during the period. Finally, Townsquare Capital LLC grew its holdings in Newmont by 4.2% during the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $135.23 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a fifty-two week low of $70.91 and a fifty-two week high of $135.29. The company has a 50 day simple moving average of $102.65 and a two-hundred day simple moving average of $109.16. The company has a market capitalization of $142.49 billion, a PE ratio of 17.07, a P/E/G ratio of 1.36 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the firm posted $1.43 EPS. Research analysts anticipate that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is 13.13%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEM. Royal Bank Of Canada decreased their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group cut their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets decreased their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, National Bank Financial lowered their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.