Good Life Advisors LLC Acquires 229 Shares of Newmont Co. (NYSE:NEM)

Good Life Advisors LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,182 shares of the basic materials company’s stock after acquiring an additional 229 shares during the quarter. Good Life Advisors LLC’s holdings in Newmont were worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after acquiring an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after acquiring an additional 313,736 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.0 %

Shares of NYSE NEM opened at $57.62 on Monday. The stock has a market cap of $66.44 billion, a PE ratio of -21.58, a PEG ratio of 0.43 and a beta of 0.50. The business has a fifty day moving average of $52.88 and a two-hundred day moving average of $46.39. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $57.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, equities research analysts expect that Newmont Co. will post 3.1 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 of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Newmont’s dividend payout ratio is -37.45%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group lifted their price target on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock 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 assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $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. Insiders sold 66,000 shares of company stock valued at $3,434,640 over the last ninety days. 0.06% of the stock is owned by insiders.

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.