Mutual of America Capital Management LLC Buys 11,275 Shares of Newmont Co. (NYSE:NEM)

Mutual of America Capital Management LLC boosted its stake in Newmont Co. (NYSE:NEM) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223,728 shares of the basic materials company’s stock after acquiring an additional 11,275 shares during the period. Mutual of America Capital Management LLC’s holdings in Newmont were worth $9,367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Newmont by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the period. Ruffer LLP lifted its position in shares of Newmont by 190.1% during the 4th quarter. Ruffer LLP now owns 6,100,822 shares of the basic materials company’s stock valued at $252,482,000 after buying an additional 3,997,590 shares during the last quarter. Northern Trust Corp grew its stake in shares of Newmont by 25.9% during the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after acquiring an additional 2,671,774 shares during the period. Finally, Maj Invest Holding A S increased its holdings in Newmont by 296.0% in the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after acquiring an additional 2,561,823 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now 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 SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and raised their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. UBS Group lifted their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two 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 price target of $52.62.

Newmont Stock Down 0.1 %

Shares of NYSE:NEM opened at $53.06 on Thursday. The firm has a market capitalization of $61.19 billion, a PE ratio of -19.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. 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 Co. has a 52-week low of $29.42 and a 52-week high of $54.93. The firm has a fifty day moving average of $49.84 and a 200 day moving average of $43.25.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. As a group, research analysts anticipate that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 5th. 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.