Mather Group LLC. Purchases 22,063 Shares of Newmont Co. (NYSE:NEM)

Mather Group LLC. grew its holdings in shares of Newmont Co. (NYSE:NEM) by 230.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,630 shares of the basic materials company’s stock after buying an additional 22,063 shares during the quarter. Mather Group LLC.’s holdings in Newmont were worth $1,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. LRI Investments LLC purchased a new stake in Newmont in the first quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont in the 2nd quarter valued at about $27,000. Heritage Wealth Advisors grew 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 worth $34,000 after acquiring an additional 878 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Newmont during the first quarter worth approximately $35,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 0.5 %

Shares of NYSE:NEM opened at $52.74 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The firm has a market capitalization of $60.82 billion, a P/E ratio of -19.75, a P/E/G ratio of 0.47 and a beta of 0.50. The business’s 50-day moving average is $51.62 and its 200 day moving average is $45.16. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $56.30.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s revenue was up 64.1% on a year-over-year basis. On average, research analysts predict that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.90%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $14,607,746.89. 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 ninety days, insiders sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America increased their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

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.