Mediolanum International Funds Ltd Makes New $529,000 Investment in Newmont Co. (NYSE:NEM)

Mediolanum International Funds Ltd purchased a new position in shares of Newmont Co. (NYSE:NEM) in the third quarter, according to its most recent filing with the SEC. The firm purchased 9,837 shares of the basic materials company’s stock, valued at approximately $529,000.

A number of other large investors have also recently bought and sold shares of NEM. Vanguard Group Inc. grew its holdings in Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the period. Maj Invest Holding A S grew its holdings in Newmont by 296.0% during 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 period. Capital International Investors acquired a new stake in Newmont during the 1st quarter worth about $49,444,000. Van ECK Associates Corp boosted its position in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. 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 quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Raymond James increased their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $59.00 to $55.00 in a research report on Friday. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $54.85.

Newmont Trading Down 1.7 %

NYSE:NEM opened at $48.42 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The firm has a market cap of $55.56 billion, a price-to-earnings ratio of -22.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a 50-day moving average price of $53.39 and a two-hundred day moving average price of $46.93.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, equities analysts expect that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s payout ratio is currently -47.17%.

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.