Newmont Co. (NYSE:NEM) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP boosted its position in Newmont Co. (NYSE:NEM) by 1,947.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 711,591 shares of the basic materials company’s stock after acquiring an additional 676,838 shares during the quarter. Bridgewater Associates LP’s holdings in Newmont were worth $38,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares in the last quarter. Red Cedar Investment Management LLC purchased a new stake in Newmont during the third quarter worth approximately $1,263,000. Herr Investment Group LLC acquired a new stake in shares of Newmont in the second quarter worth $419,000. Truist Financial Corp raised its stake in shares of Newmont by 8.1% in the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after acquiring an additional 11,276 shares during the period. Finally, Cetera Trust Company N.A acquired a new position in shares of Newmont during the 3rd quarter valued at $705,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Jefferies Financial Group raised their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Stock Down 0.5 %

NEM stock opened at $42.25 on Wednesday. The stock’s 50 day simple moving average is $49.80 and its 200 day simple moving average is $47.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The transaction 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 Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by company insiders.

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.