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

Bridgewater Associates LP raised its position in Newmont Co. (NYSE:NEM) by 1,947.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 711,591 shares of the basic materials company’s stock after buying an additional 676,838 shares during the quarter. Bridgewater Associates LP owned approximately 0.06% of Newmont worth $38,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. LRI Investments LLC purchased a new stake in Newmont in the 1st quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the second quarter worth about $27,000. Hoese & Co LLP purchased a new position in shares of Newmont during the third quarter worth about $27,000. Finally, Avior Wealth Management LLC increased its position in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 0.5 %

Shares of NEM opened at $42.25 on Wednesday. The company has a 50-day moving average of $49.80 and a two-hundred day moving average of $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 quick ratio of 1.73 and a current ratio of 1.96.

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

Newmont Dividend Announcement

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

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

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.