Newmont Corporation $NEM Holdings Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in shares of Newmont Corporation (NYSE:NEM) by 515.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,538,808 shares of the basic materials company’s stock after purchasing an additional 1,288,691 shares during the period. Los Angeles Capital Management LLC’s holdings in Newmont were worth $89,651,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NEM. Paradigm Asset Management Co. LLC bought a new stake in Newmont during the 2nd quarter valued at approximately $117,000. KCM Investment Advisors LLC boosted its stake in Newmont by 34.4% in the second quarter. KCM Investment Advisors LLC now owns 13,653 shares of the basic materials company’s stock worth $795,000 after purchasing an additional 3,493 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in Newmont by 41.7% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 16,450 shares of the basic materials company’s stock worth $958,000 after buying an additional 4,845 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new position in Newmont in the 2nd quarter worth approximately $1,923,000. Finally, Pekin Hardy Strauss Inc. increased its stake in shares of Newmont by 0.9% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 32,319 shares of the basic materials company’s stock valued at $1,883,000 after buying an additional 300 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 1.0%

NYSE:NEM opened at $83.39 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a market cap of $91.00 billion, a PE ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.33. The stock has a 50-day simple moving average of $83.14 and a 200 day simple moving average of $67.46.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NEM shares. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. TD Securities lifted their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $86.92.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

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.