Exchange Traded Concepts LLC Takes $301,000 Position in Newmont Co. (NYSE:NEM)

Exchange Traded Concepts LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,639 shares of the basic materials company’s stock, valued at approximately $301,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp boosted its stake in 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 valued at $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Legal & General Group Plc grew its holdings in 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 purchasing an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Newmont by 8.6% during 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 purchasing an additional 545,903 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Newmont by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after purchasing an additional 313,736 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 2.0 %

Shares of NYSE:NEM opened at $57.62 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $57.96. The business has a 50 day moving average of $52.88 and a two-hundred day moving average of $46.39. The company has a market capitalization of $66.44 billion, a PE ratio of -21.58, a PEG ratio of 0.43 and a beta of 0.50.

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, beating the consensus estimate 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 negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. As a group, analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $48.00 to $59.00 in a report on Monday, August 19th. UBS Group lifted their target price 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. Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 completion of the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. 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 is available through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock worth $3,434,640 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.