Gamco Investors INC. ET AL Buys 5,870 Shares of Newmont Corporation $NEM

Gamco Investors INC. ET AL increased its stake in shares of Newmont Corporation (NYSE:NEM) by 1.0% during the 2nd quarter, Holdings Channel reports. The fund owned 608,306 shares of the basic materials company’s stock after acquiring an additional 5,870 shares during the period. Gamco Investors INC. ET AL’s holdings in Newmont were worth $35,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Hemington Wealth Management raised its holdings in shares of Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. IVC Wealth Advisors LLC increased its position in Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 185 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. grew its stake in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after acquiring an additional 190 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, TD Securities boosted their target price on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $93.22.

Newmont Price Performance

Shares of NYSE:NEM opened at $89.84 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $98.04 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The stock’s fifty day simple moving average is $86.92 and its two-hundred day simple moving average is $72.63. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 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.