Newmont Corporation (NYSE:NEM) Shares Purchased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. boosted its holdings in Newmont Corporation (NYSE:NEM) by 17.0% in the first quarter, HoldingsChannel.com reports. The firm owned 6,856 shares of the basic materials company’s stock after acquiring an additional 997 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Newmont were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Newmont by 13.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,792 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 783 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Newmont by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company’s stock valued at $6,741,000 after acquiring an additional 2,877 shares during the period. HighPoint Advisor Group LLC boosted its holdings in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 219 shares during the period. Finally, Systematic Alpha Investments LLC bought a new stake in shares of Newmont during the fourth quarter valued at about $330,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $62.61 on Friday. The company’s 50-day moving average price is $58.10 and its two-hundred day moving average price is $51.28. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $68.77 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $66.57.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Newmont’s dividend payout ratio is currently 17.95%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company’s stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares of the company’s stock, valued at $4,378,402.50. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,154 shares of company stock valued at $572,889 over the last ninety days. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NEM. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Finally, Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $64.58.

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.