Ameritas Advisory Services LLC Grows Stock Position in Newmont Corporation $NEM

Ameritas Advisory Services LLC lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 150.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,139 shares of the basic materials company’s stock after acquiring an additional 18,696 shares during the period. Ameritas Advisory Services LLC’s holdings in Newmont were worth $3,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NEM. Assetmark Inc. boosted its stake in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. Boston Partners increased its stake in Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Newmont by 106.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after purchasing an additional 2,146,905 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Newmont by 171.6% during the second quarter. AQR Capital Management LLC now owns 2,504,253 shares of the basic materials company’s stock worth $143,068,000 after buying an additional 1,582,324 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NEM shares. Argus upped their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. The Goldman Sachs Group boosted their price target on Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Stifel Nicolaus increased their price objective on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Citigroup raised their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.51.

Insider Buying and Selling

In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $118.99 on Thursday. The firm’s fifty day moving average is $112.20 and its two-hundred day moving average is $106.79. The firm has a market cap of $127.02 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 45.8% on a year-over-year basis. Research analysts expect that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is presently 13.49%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.