Ameritas Advisory Services LLC Grows Position in Newmont Co. (NYSE:NEM)

Ameritas Advisory Services LLC raised its holdings in Newmont Co. (NYSE:NEM) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,219 shares of the basic materials company’s stock after purchasing an additional 2,148 shares during the period. Ameritas Advisory Services LLC’s holdings in Newmont were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Arkadios Wealth Advisors purchased a new stake in shares of Newmont during the second quarter worth $1,417,000. Financial Advocates Investment Management grew its holdings in Newmont by 5.5% during the 2nd quarter. Financial Advocates Investment Management now owns 15,292 shares of the basic materials company’s stock valued at $640,000 after buying an additional 801 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Newmont by 62.9% during the second quarter. HB Wealth Management LLC now owns 13,315 shares of the basic materials company’s stock valued at $558,000 after buying an additional 5,139 shares during the period. AlphaQ Advisors LLC purchased a new stake in shares of Newmont in the second quarter worth about $304,000. Finally, Conning Inc. bought a new position in shares of Newmont in the second quarter valued at approximately $219,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday. Jefferies Financial Group increased their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Sanford C. Bernstein reduced their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Newmont Trading Down 0.2 %

NYSE:NEM traded down $0.08 during midday trading on Friday, reaching $53.10. 2,972,972 shares of the stock traded hands, compared to its average volume of 10,622,020. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The company has a fifty day moving average of $47.00 and a 200 day moving average of $41.12. The stock has a market capitalization of $61.23 billion, a P/E ratio of -19.92, a PEG ratio of 0.37 and a beta of 0.47. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $53.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the business earned $0.33 EPS. Newmont’s revenue was up 64.1% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

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.