Zuckerman Investment Group LLC Takes Position in Newmont Co. (NYSE:NEM)

Zuckerman Investment Group LLC acquired a new stake in Newmont Co. (NYSE:NEMGet Rating) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,420 shares of the basic materials company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. FMR LLC lifted its stake in shares of Newmont by 16.6% in the 2nd quarter. FMR LLC now owns 26,859,545 shares of the basic materials company’s stock valued at $1,602,709,000 after purchasing an additional 3,819,167 shares during the period. GQG Partners LLC raised its stake in Newmont by 8.5% during the 2nd quarter. GQG Partners LLC now owns 34,781,848 shares of the basic materials company’s stock worth $2,076,250,000 after buying an additional 2,710,957 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Newmont by 103.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after buying an additional 2,281,418 shares during the period. Capital World Investors raised its stake in Newmont by 70.6% during the 1st quarter. Capital World Investors now owns 4,305,094 shares of the basic materials company’s stock worth $342,040,000 after buying an additional 1,781,294 shares during the period. Finally, Barclays PLC raised its stake in Newmont by 64.9% during the 3rd quarter. Barclays PLC now owns 4,180,152 shares of the basic materials company’s stock worth $175,693,000 after buying an additional 1,645,165 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. TD Securities dropped their price target on Newmont from $49.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, November 2nd. Eight Capital dropped their price target on Newmont to $58.00 in a research note on Thursday, October 27th. Fundamental Research reaffirmed a “buy” rating and set a $52.00 price target (down from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. Credit Suisse Group boosted their price objective on Newmont to $54.00 in a report on Monday, November 21st. Finally, National Bank Financial boosted their price objective on Newmont from C$76.00 to C$86.00 in a report on Friday, January 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.07.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the transaction, the chief executive officer now directly owns 221,949 shares of the company’s stock, valued at $9,548,245.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $129,060.00. Following the sale, the chief operating officer now owns 39,947 shares in the company, valued at $1,718,519.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total value of $473,220.00. Following the sale, the chief executive officer now owns 221,949 shares in the company, valued at approximately $9,548,245.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,890 shares of company stock valued at $2,160,662. Company insiders own 0.11% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock traded up $0.35 during trading on Wednesday, hitting $53.74. The company’s stock had a trading volume of 628,230 shares, compared to its average volume of 6,365,864. The company has a market cap of $42.66 billion, a PE ratio of 42.37 and a beta of 0.27. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $48.61 and a 200-day moving average of $45.97. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $86.37.

Newmont (NYSE:NEMGet Rating) last released its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. As a group, research analysts anticipate that Newmont Co. will post 1.81 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is 174.60%.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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