50,795 Shares in Newmont Corporation $NEM Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,795 shares of the basic materials company’s stock, valued at approximately $4,744,000.

A number of other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in shares of Newmont in the 4th quarter valued at $9,018,000. ARS Investment Partners LLC boosted its stake 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 valued at $69,602,000 after purchasing an additional 23,900 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Newmont by 37.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock valued at $21,440,000 after buying an additional 58,690 shares during the last quarter. iA Global Asset Management Inc. grew its position in Newmont by 156.9% during the fourth quarter. iA Global Asset Management Inc. now owns 221,790 shares of the basic materials company’s stock worth $22,146,000 after buying an additional 135,446 shares in the last quarter. Finally, Private Advisory Group LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $10,430,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 2.2%

Newmont stock opened at $120.35 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $99.36 and a 200 day simple moving average of $108.81. The company has a market cap of $126.81 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 1-year low of $67.20 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. Research analysts anticipate that Newmont Corporation will post 9 earnings per share for the current fiscal year.

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 32,091 shares of company stock worth $3,292,513. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. TD boosted their price objective on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.59.

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.