Paradigm Asset Management Co. LLC Buys New Shares in Newmont Corporation $NEM

Paradigm Asset Management Co. LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the basic materials company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the last quarter. Amundi increased its stake in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. lifted its position in Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Newmont by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock valued at $333,192,000 after purchasing an additional 50,840 shares during the period. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NEM. Citigroup lifted their target price on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada upped their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Bank of America upped their price target on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $86.92.

Newmont Trading Up 1.0%

NYSE NEM opened at $83.39 on Friday. The firm has a market capitalization of $91.00 billion, a PE ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.33. The stock’s 50 day moving average is $83.14 and its 200 day moving average is $67.55. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. 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 announced its quarterly earnings data 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 return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,237 shares of company stock valued at $906,799. Corporate insiders own 0.05% of the company’s stock.

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.