Scheer Rowlett & Associates Investment Management Ltd. Purchases 27,336 Shares of Newmont Corporation $NEM

Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Newmont Corporation (NYSE:NEM) by 7.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,777 shares of the basic materials company’s stock after buying an additional 27,336 shares during the quarter. Newmont makes up 1.5% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 26th largest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Newmont were worth $23,430,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its position in shares of Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares during the last quarter. Generate Investment Management Ltd boosted its holdings in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the period. Banco Santander S.A. boosted its holdings in shares of Newmont by 2,244.4% in the 2nd quarter. Banco Santander S.A. now owns 128,284 shares of the basic materials company’s stock worth $7,474,000 after purchasing an additional 122,812 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Newmont by 25.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 526,220 shares of the basic materials company’s stock valued at $30,658,000 after purchasing an additional 105,334 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. TD Securities raised their target price on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Bank of America upped their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $86.92.

Newmont Stock Up 1.0%

Shares of NEM opened at $83.39 on Friday. The firm has a fifty day moving average price of $83.14 and a 200-day moving average price of $67.55. 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 firm has a market capitalization of $91.00 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last ninety days. Insiders own 0.05% 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.