Mather Group LLC. Buys 5,572 Shares of Newmont Co. (NYSE:NEM)

Mather Group LLC. grew its stake in shares of Newmont Co. (NYSE:NEM) by 139.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,567 shares of the basic materials company’s stock after purchasing an additional 5,572 shares during the quarter. Mather Group LLC.’s holdings in Newmont were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NEM. Meeder Advisory Services Inc. raised its stake in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Newmont by 1.7% in the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares during the last quarter. Berkeley Capital Partners LLC increased its stake in shares of Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after buying an additional 318 shares during the period. Crestmont Private Wealth LLC increased its stake in shares of Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after buying an additional 319 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in Newmont by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock worth $3,547,000 after acquiring an additional 338 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 1.2 %

Shares of NYSE:NEM traded up $0.56 during trading on Tuesday, reaching $47.59. 8,754,517 shares of the stock traded hands, compared to its average volume of 11,235,734. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.72. The stock has a market cap of $54.61 billion, a P/E ratio of -17.82, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The stock has a 50-day moving average of $44.05 and a two-hundred day moving average of $39.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

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. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, sell-side analysts expect that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Buying and Selling at Newmont

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

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Sanford C. Bernstein cut their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $50.00.

About Newmont

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.