Great Lakes Advisors LLC Has $1.58 Million Stock Position in Newmont Co. (NYSE:NEM)

Great Lakes Advisors LLC boosted its position in shares of Newmont Co. (NYSE:NEM) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,467 shares of the basic materials company’s stock after purchasing an additional 381 shares during the period. Great Lakes Advisors LLC’s holdings in Newmont were worth $1,581,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NEM. Studio Investment Management LLC lifted its position in shares of Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after buying an additional 261 shares during the last quarter. Confluence Investment Management LLC lifted its position in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after buying an additional 281 shares during the last quarter. Howard Capital Management Inc. lifted its position in shares of Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after buying an additional 292 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after buying an additional 303 shares during the last quarter. Finally, Conning Inc. lifted its position in shares of Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after buying an additional 311 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Trading Up 1.4 %

NEM stock opened at $46.27 on Friday. Newmont Co. has a 1-year low of $33.29 and a 1-year high of $58.72. The firm has a market cap of $52.14 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.41 and a beta of 0.54. The business’s 50 day moving average is $43.20 and its 200-day moving average is $45.76. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Company 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.