Newmont Corporation $NEM Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. raised its position in Newmont Corporation (NYSE:NEM) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,934 shares of the basic materials company’s stock after purchasing an additional 1,143 shares during the period. Bessemer Group Inc.’s holdings in Newmont were worth $753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Newmont by 2.1% in the 1st quarter. DAVENPORT & Co LLC now owns 47,410 shares of the basic materials company’s stock valued at $2,289,000 after purchasing an additional 961 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Newmont in the 1st quarter valued at about $206,000. Private Trust Co. NA lifted its holdings in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Newmont by 523.9% in the 1st quarter. Teacher Retirement System of Texas now owns 420,886 shares of the basic materials company’s stock valued at $20,320,000 after purchasing an additional 353,425 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. BNP Paribas Exane increased their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Raymond James Financial set a $99.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $86.92.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,172 shares of company stock worth $808,863 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Newmont Trading Down 1.8%

Shares of NEM stock opened at $80.85 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The firm’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $66.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $88.23 billion, a P/E ratio of 12.55, a PEG ratio of 0.53 and a beta of 0.34.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

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.