Gateway Investment Advisers LLC Acquires 215,878 Shares of Newmont Co. (NYSE:NEM)

Gateway Investment Advisers LLC increased its holdings in shares of Newmont Co. (NYSE:NEMGet Rating) by 478.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,987 shares of the basic materials company’s stock after buying an additional 215,878 shares during the period. Gateway Investment Advisers LLC’s holdings in Newmont were worth $15,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. J2 Capital Management Inc increased its stake in Newmont by 2.4% in the first quarter. J2 Capital Management Inc now owns 5,656 shares of the basic materials company’s stock valued at $449,000 after purchasing an additional 130 shares in the last quarter. Private Capital Group LLC increased its stake in Newmont by 8.7% in the first quarter. Private Capital Group LLC now owns 1,692 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 135 shares in the last quarter. Glassman Wealth Services increased its stake in Newmont by 21.8% in the first quarter. Glassman Wealth Services now owns 821 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 147 shares in the last quarter. Seelaus Asset Management LLC increased its stake in Newmont by 2.7% in the first quarter. Seelaus Asset Management LLC now owns 5,790 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 150 shares in the last quarter. Finally, Lee Johnson Capital Management LLC increased its stake in Newmont by 0.6% in the first quarter. Lee Johnson Capital Management LLC now owns 27,243 shares of the basic materials company’s stock valued at $2,164,000 after purchasing an additional 160 shares in the last quarter. 81.11% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $42.40 on Thursday. The stock has a market cap of $33.65 billion, a P/E ratio of 42.83 and a beta of 0.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.82 and a quick ratio of 2.44. The company has a fifty day moving average price of $45.33 and a two-hundred day moving average price of $62.06. Newmont Co. has a one year low of $40.27 and a one year high of $86.37.

Newmont (NYSE:NEMGet Rating) last announced its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.14). The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. As a group, equities analysts predict that Newmont Co. will post 2.61 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio is currently 222.22%.

Analysts Set New Price Targets

Several brokerages have commented on NEM. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, September 6th. National Bank Financial raised shares of Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, September 12th. They set a “buy” rating and a $53.00 price objective for the company. Barclays lowered their price objective on shares of Newmont from $58.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, September 16th. Finally, Fundamental Research lowered their price objective on shares of Newmont from $79.52 to $63.91 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Hold” and an average target price of $66.94.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $61.50, for a total value of $615,000.00. Following the completion of the sale, the chief financial officer now owns 39,530 shares in the company, valued at $2,431,095. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the sale, the chief financial officer now owns 39,530 shares in the company, valued at approximately $2,431,095. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $59.43, for a total transaction of $178,290.00. Following the sale, the chief operating officer now owns 64,617 shares of the company’s stock, valued at approximately $3,840,188.31. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $2,081,920 over the last quarter. 0.11% of the stock is currently owned by insiders.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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