Ensign Peak Advisors Inc Has $13.87 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Ensign Peak Advisors Inc grew its position in Newmont Co. (NYSE:NEM) by 112.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 331,167 shares of the basic materials company’s stock after buying an additional 175,424 shares during the period. Ensign Peak Advisors Inc’s holdings in Newmont were worth $13,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Newmont during the 2nd quarter worth about $27,000. LRI Investments LLC bought a new stake in shares of Newmont during the first quarter worth approximately $25,000. Heritage Wealth Advisors boosted its stake in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Newmont during the 1st quarter worth $35,000. Finally, Rise Advisors LLC raised its position in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 973 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,000 shares of company stock worth $2,744,700. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $54.48 on Tuesday. The firm has a market cap of $62.82 billion, a PE ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $55.67. The company’s fifty day simple moving average is $50.25 and its 200-day simple moving average is $43.76. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share 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 analyst estimates 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 previous year, the firm earned $0.33 EPS. Equities research analysts expect that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEM. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. UBS Group increased their price target on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $48.00 to $59.00 in a report on Monday, August 19th. Bank of America lifted their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.62.

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.