Newmont Corporation $NEM Position Raised by Semper Augustus Investments Group LLC

Semper Augustus Investments Group LLC raised its stake in shares of Newmont Corporation (NYSE:NEM) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 678,145 shares of the basic materials company’s stock after buying an additional 15,589 shares during the quarter. Newmont comprises 5.6% of Semper Augustus Investments Group LLC’s portfolio, making the stock its 6th largest holding. Semper Augustus Investments Group LLC owned approximately 0.06% of Newmont worth $39,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NEM. Brighton Jones LLC lifted its position in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Boston Partners bought a new stake in shares of Newmont during the 1st quarter valued at about $5,349,000. Horizon Investments LLC raised its position in shares of Newmont by 3.7% in the 1st quarter. Horizon Investments LLC now owns 20,630 shares of the basic materials company’s stock worth $996,000 after acquiring an additional 745 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the period. Finally, Aberdeen Group plc raised its holdings in Newmont by 21.6% in the first quarter. Aberdeen Group plc now owns 1,922,254 shares of the basic materials company’s stock worth $92,259,000 after purchasing an additional 340,837 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Argus raised their price objective on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 8th. Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, BNP Paribas cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective on the stock. in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $96.37.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,240 shares of company stock valued at $943,985 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $98.21 on Friday. The business’s 50-day simple moving average is $87.86 and its two-hundred day simple moving average is $74.09. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $102.13. The stock has a market cap of $107.17 billion, a PE ratio of 15.25, a P/E/G ratio of 0.68 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 15.53%.

About Newmont

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.