Artemis Investment Management LLP Buys 291,131 Shares of Newmont Co. (NYSE:NEM)

Artemis Investment Management LLP raised its stake in shares of Newmont Co. (NYSE:NEM) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,854,180 shares of the basic materials company’s stock after acquiring an additional 291,131 shares during the period. Newmont makes up 1.5% of Artemis Investment Management LLP’s holdings, making the stock its 10th biggest holding. Artemis Investment Management LLP owned approximately 0.16% of Newmont worth $99,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in Newmont during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont in the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in Newmont in the second quarter valued at $27,000. Heritage Wealth Advisors boosted its position in shares of 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 period. Finally, Crewe Advisors LLC purchased a new position in Newmont during the 1st quarter worth approximately $35,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock valued at $3,434,640. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $52.74 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 firm has a market cap of $60.82 billion, a price-to-earnings ratio of -19.75, a P/E/G ratio of 0.47 and a beta of 0.50. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $56.30. The firm’s 50-day simple moving average is $51.62 and its two-hundred day simple moving average is $45.16.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts forecast that Newmont Co. will post 2.88 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. BMO Capital Markets boosted their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America raised 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. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.31.

Newmont 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.