Howard Capital Management Inc. Grows Position in Newmont Corporation $NEM

Howard Capital Management Inc. grew its stake in shares of Newmont Corporation (NYSE:NEM) by 49.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,316 shares of the basic materials company’s stock after buying an additional 2,416 shares during the period. Howard Capital Management Inc.’s holdings in Newmont were worth $426,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NEM. Nuveen LLC purchased a new stake in Newmont during the first quarter valued at about $306,507,000. Pacer Advisors Inc. grew its holdings in shares of Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after purchasing an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Newmont by 2,003.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM opened at $79.60 on Thursday. The company has a fifty day simple moving average of $81.80 and a 200 day simple moving average of $66.25. The firm has a market cap of $86.87 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.53 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada increased their price objective on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $86.92.

Newmont Profile

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.