Gateway Investment Advisers LLC Makes New Investment in Newmont Co. (NYSE:NEM)

Gateway Investment Advisers LLC purchased a new position in Newmont Co. (NYSE:NEM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 225,207 shares of the basic materials company's stock, valued at approximately $9,429,000.

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Other institutional investors and hedge funds have also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in Newmont by 24.8% in the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company's stock worth $12,116,000 after acquiring an additional 58,217 shares during the period. Principal Financial Group Inc. boosted its holdings in Newmont by 34.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company's stock worth $53,009,000 after acquiring an additional 325,320 shares during the period. Premier Fund Managers Ltd purchased a new position in shares of Newmont during the 4th quarter valued at approximately $1,276,000. KLCM Advisors Inc. boosted its stake in shares of Newmont by 4.3% during the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company's stock valued at $17,708,000 after buying an additional 17,791 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Newmont by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 452,422 shares of the basic materials company's stock valued at $18,726,000 after buying an additional 148,131 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NYSE NEM remained flat at $47.71 during trading hours on Friday. The company's stock had a trading volume of 3,631,996 shares, compared to its average volume of 11,115,396. The company has a market cap of $55.02 billion, a price-to-earnings ratio of -17.87, a P/E/G ratio of 0.37 and a beta of 0.47. 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 1 year low of $29.42 and a 1 year high of $50.72. The business has a fifty day moving average of $44.48 and a two-hundred day moving average of $39.60.

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Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.10. The company 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 company's quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Equities analysts forecast that Newmont Co. will post 2.76 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont's payout ratio is currently -37.45%.

Insider Buying and Selling

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In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company's stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Scotiabank increased their target price on Newmont from $46.50 to $48.00 and gave the company a "sector perform" rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. cut Newmont from an "overweight" rating to a "neutral" rating in a research note on Monday, July 8th. Sanford C. Bernstein reduced their target price on Newmont from $46.00 to $45.00 and set a "market perform" rating for the company in a research note on Thursday, May 16th. National Bank Financial cut Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group increased their target price on Newmont from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

View Our Latest Analysis on Newmont

Newmont 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.

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