American Century Companies Inc. Raises Position in Newmont Co. (NYSE:NEM)

American Century Companies Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 854,837 shares of the basic materials company’s stock after buying an additional 30,685 shares during the period. American Century Companies Inc. owned about 0.07% of Newmont worth $35,792,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. LRI Investments LLC bought a new stake in shares of Newmont in the 1st quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the 2nd quarter worth about $25,000. Heritage Wealth Advisors increased its stake in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Newmont during the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC boosted its stake in shares of Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 29th. Finally, UBS Group raised their price target on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Five 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,000 shares of company stock worth $2,744,700. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $53.11 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a market capitalization of $61.24 billion, a price-to-earnings ratio of -19.89, a price-to-earnings-growth 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 $54.25. The stock’s 50-day simple moving average is $49.69 and its 200 day simple moving average is $43.18.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. Research analysts forecast that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Newmont’s payout ratio is currently -37.45%.

About Newmont

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.