LaSalle St. Investment Advisors LLC bought a new stake in Newmont Corporation (NYSE:NEM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,522 shares of the basic materials company’s stock, valued at approximately $1,263,000.
A number of other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of Newmont in the fourth quarter valued at $9,018,000. ARS Investment Partners LLC lifted its holdings in Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after purchasing an additional 23,900 shares in the last quarter. Private Advisory Group LLC purchased a new stake in Newmont during the 2nd quarter worth about $10,430,000. Thrivent Financial for Lutherans boosted its stake in Newmont by 37.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock worth $21,440,000 after purchasing an additional 58,690 shares during the period. Finally, iA Global Asset Management Inc. boosted its stake in Newmont by 156.9% in the 4th quarter. iA Global Asset Management Inc. now owns 221,790 shares of the basic materials company’s stock worth $22,146,000 after purchasing an additional 135,446 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Newmont Stock Up 2.2%
Shares of NEM opened at $127.86 on Friday. The firm has a market cap of $134.72 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.29 and a beta of 0.47. The stock has a 50 day simple moving average of $100.96 and a two-hundred day simple moving average of $108.80. 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 Corporation has a 1 year low of $68.90 and a 1 year high of $134.88.
Newmont Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont’s payout ratio is currently 13.13%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on NEM shares. The Goldman Sachs Group decreased their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Citigroup cut their price objective on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Raymond James Financial reduced their price objective on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.59.
Read Our Latest Research Report on Newmont
Insiders Place Their Bets
In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the transaction, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This trade represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock valued at $3,292,513 over the last three months. Insiders own 0.06% of the company’s stock.
Newmont Company Profile
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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