Vise Technologies Inc. purchased a new position in shares of Newmont Corporation (NYSE:NEM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 55,061 shares of the basic materials company’s stock, valued at approximately $5,143,000.
Several other institutional investors and hedge funds have also modified their holdings of NEM. Cedar Mountain Advisors LLC bought a new position in Newmont in the first quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Newmont in the first quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $26,000. Clearstead Trust LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $25,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.
Newmont Stock Up 2.2%
Shares of NYSE NEM opened at $127.86 on Friday. The company has a 50 day simple moving average of $100.96 and a 200 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. The firm has a market cap of $134.72 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.47.
Newmont Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors 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 dividend yield of 0.8%. Newmont’s payout ratio is currently 13.13%.
Insider Activity at Newmont
In related news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock worth $3,292,513 over the last three months. Company insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on NEM shares. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Raymond James Financial cut their target price on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Bank of America decreased their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Barclays lowered their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 28th. Finally, Jefferies Financial Group dropped their price target on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $132.59.
Get Our Latest Analysis on Newmont
About Newmont
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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