Sagil Capital LLP Buys New Position in Newmont Co. (NYSE:NEM)

Sagil Capital LLP bought a new stake in Newmont Co. (NYSE:NEM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 150,000 shares of the basic materials company’s stock, valued at approximately $6,280,000. Newmont comprises approximately 3.2% of Sagil Capital LLP’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp grew its holdings 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock worth $832,354,000 after purchasing an additional 6,617,145 shares during the period. Northern Trust Corp grew its holdings in shares of Newmont by 25.9% during the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after purchasing an additional 2,671,774 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 0.0 %

NYSE:NEM opened at $53.11 on Wednesday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $54.25. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of -19.89, a PEG ratio of 0.37 and a beta of 0.49. The business has a fifty day moving average of $49.69 and a 200-day moving average of $43.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 64.1% compared to the same quarter last year. Equities analysts predict that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Newmont’s payout ratio is -37.45%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value 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. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value 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 approximately $4,963,452.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. UBS Group upped their price target on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.62.

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.