Gleason Group Inc. Increases Stake in Newmont Co. (NYSE:NEM)

Gleason Group Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM – Get Rating) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,030 shares of the basic materials company’s stock after acquiring an additional 232 shares during the quarter. Gleason Group Inc.’s holdings in Newmont were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its position in shares of Newmont by 16.6% in the second quarter. FMR LLC now owns 26,859,545 shares of the basic materials company’s stock valued at $1,602,709,000 after buying an additional 3,819,167 shares in the last quarter. GQG Partners LLC increased its position in shares of Newmont by 8.5% in the second quarter. GQG Partners LLC now owns 34,781,848 shares of the basic materials company’s stock valued at $2,076,250,000 after buying an additional 2,710,957 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Newmont by 66.2% in the third quarter. Neuberger Berman Group LLC now owns 6,532,751 shares of the basic materials company’s stock valued at $274,555,000 after buying an additional 2,602,396 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Newmont by 103.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock valued at $356,749,000 after buying an additional 2,281,418 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Newmont by 1,075.2% in the third quarter. Marshall Wace LLP now owns 2,488,836 shares of the basic materials company’s stock valued at $104,604,000 after buying an additional 2,277,063 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NEM. Fundamental Research set a $51.92 price target on Newmont and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $55.00 in a research report on Monday, March 13th. Barclays boosted their price target on Newmont from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. National Bank Financial boosted their price target on Newmont from C$76.00 to C$86.00 in a research report on Friday, January 13th. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $59.00 to $53.00 in a research report on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.21.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the transaction, the chief executive officer now directly owns 199,949 shares of the company’s stock, valued at $9,643,540.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total value of $132,750.00. Following the sale, the chief operating officer now owns 87,751 shares of the company’s stock, valued at $3,882,981.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the sale, the chief executive officer now directly owns 199,949 shares in the company, valued at approximately $9,643,540.27. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock valued at $1,294,720 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

Newmont Price Performance

NEM opened at $48.17 on Friday. The stock’s 50-day moving average price is $48.39 and its 200 day moving average price is $45.80. Newmont Co. has a 12-month low of $37.45 and a 12-month high of $86.37. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm has a market cap of $38.27 billion, a price-to-earnings ratio of -89.20, a PEG ratio of 1.75 and a beta of 0.31.

Newmont (NYSE:NEM – Get Rating) last posted its earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). Newmont had a positive return on equity of 6.98% and a negative net margin of 3.60%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company posted $0.78 EPS. Newmont’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Co. will post 2.24 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, March 8th. Newmont’s payout ratio is -296.29%.

Newmont Company Profile

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.