Itau Unibanco Holding S.A. Buys 1,864 Shares of Newmont Co. (NYSE:NEM)

Itau Unibanco Holding S.A. raised its stake in Newmont Co. (NYSE:NEM) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,588 shares of the basic materials company’s stock after purchasing an additional 1,864 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Newmont were worth $904,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Newmont in the first quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont during the 2nd quarter worth about $27,000. Heritage Wealth Advisors lifted 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 purchasing an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Newmont during the first quarter worth about $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NEM shares. UBS Group upped their price objective on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group lifted their target price on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. Bank of America boosted their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.62.

Newmont Stock Performance

NYSE:NEM opened at $54.47 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $54.93. The stock’s 50-day moving average is $50.10 and its 200-day moving average is $43.54. The stock has a market cap of $62.81 billion, a P/E ratio of -20.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s 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 directly owns 94,596 shares of the company’s stock, valued at $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 Newmont stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now 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 90 days, insiders have sold 56,000 shares of company stock worth $2,744,700. 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.