Successful Portfolios LLC acquired a new stake in Newmont Corporation (NYSE:NEM – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,225 shares of the basic materials company’s stock, valued at approximately $721,000.
Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Newmont in the 2nd quarter valued at approximately $11,289,753,000. Van ECK Associates Corp bought a new stake in shares of Newmont during the second quarter worth $671,197,000. Bank of New York Mellon Corp bought a new stake in shares of Newmont during the second quarter worth $1,219,505,000. First Eagle Investment Management LLC acquired a new position in shares of Newmont during the second quarter worth $241,820,000. Finally, Amundi bought a new position in shares of Newmont in the 2nd quarter valued at $209,411,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont Trading Up 2.1%
Shares of Newmont stock traded up $2.38 during trading on Friday, hitting $117.93. The company’s stock had a trading volume of 4,830,513 shares, compared to its average volume of 8,644,920. The stock has a market cap of $124.26 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The stock has a 50-day moving average price of $120.83 and a two-hundred day moving average price of $110.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.
Newmont Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on NEM. Royal Bank Of Canada raised their price objective on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. The Goldman Sachs Group dropped their target price on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Scotiabank lifted their price target on Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Raymond James Financial restated an “outperform” rating and set a $140.00 price target on shares of Newmont in a report on Monday, August 24th. Finally, Argus set a $110.00 price objective on Newmont in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.26.
Read Our Latest Stock Report on NEM
Insider Transactions at Newmont
In other news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last ninety days. 0.06% of the stock is owned by insiders.
Newmont Profile
Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.
Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.
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