Azimuth Capital Investment Management LLC bought a new stake in Newmont Co. (NYSE:NEM – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 54,385 shares of the basic materials company's stock, valued at approximately $3,245,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Newmont by 0.8% in the first quarter. BlackRock Inc. now owns 92,339,052 shares of the basic materials company's stock worth $7,336,337,000 after acquiring an additional 703,555 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Newmont by 1.9% in the first quarter. Vanguard Group Inc. now owns 66,911,768 shares of the basic materials company's stock worth $5,316,140,000 after acquiring an additional 1,225,458 shares in the last quarter. State Street Corp grew its stake in shares of Newmont by 0.7% in the first quarter. State Street Corp now owns 40,619,717 shares of the basic materials company's stock worth $3,227,237,000 after acquiring an additional 270,396 shares in the last quarter. GQG Partners LLC grew its stake in shares of Newmont by 182.0% in the first quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company's stock worth $2,547,688,000 after acquiring an additional 20,699,677 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Newmont by 0.4% in the first quarter. First Eagle Investment Management LLC now owns 17,502,393 shares of the basic materials company's stock worth $1,390,565,000 after acquiring an additional 69,139 shares in the last quarter. Institutional investors and hedge funds own 81.11% of the company's stock.

Newmont Trading Up 2.5 %

NYSE NEM opened at $46.13 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 2.72. The firm has a market cap of $36.62 billion, a PE ratio of 36.61 and a beta of 0.25. Newmont Co. has a one year low of $37.45 and a one year high of $86.37. The firm's fifty day moving average is $42.81 and its two-hundred day moving average is $51.09.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $2.20 dividend on an annualized basis and a yield of 4.77%. Newmont's dividend payout ratio is presently 174.60%.

Insider Buying and Selling at Newmont

In other news, insider Mark Casper sold 4,890 shares of the business's stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the transaction, the insider now directly owns 18,217 shares in the company, valued at $764,749.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Mark Casper sold 4,890 shares of the business's stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the transaction, the insider now directly owns 18,217 shares in the company, valued at $764,749.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the business's stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $129,060.00. Following the transaction, the chief operating officer now owns 39,947 shares in the company, valued at $1,718,519.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,890 shares of company stock worth $1,405,502. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on NEM shares. Eight Capital dropped their price target on shares of Newmont to $58.00 in a research note on Thursday, October 27th. StockNews.com began coverage on shares of Newmont in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Raymond James decreased their price objective on shares of Newmont from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, November 2nd. Barclays decreased their price objective on shares of Newmont from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Credit Suisse Group lifted their price objective on shares of Newmont to $54.00 in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $63.33.

Newmont Profile

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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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