Johnson Financial Group Inc. Takes Position in Newmont Corporation $NEM

Johnson Financial Group Inc. acquired a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,109 shares of the basic materials company’s stock, valued at approximately $2,719,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Leonteq Securities AG purchased a new position in Newmont in the fourth quarter worth about $9,018,000. ARS Investment Partners LLC lifted its stake in shares of Newmont by 3.6% in 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 during the period. Private Advisory Group LLC purchased a new position in shares of Newmont in the second quarter worth approximately $10,430,000. Thrivent Financial for Lutherans boosted its holdings in shares of Newmont by 37.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock worth $21,440,000 after buying an additional 58,690 shares during the last quarter. Finally, 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 valued at $22,146,000 after buying an additional 135,446 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NYSE NEM opened at $125.18 on Thursday. The stock has a market cap of $131.90 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.20 and a beta of 0.47. Newmont Corporation has a 1 year low of $67.69 and a 1 year high of $134.88. The firm has a fifty day moving average price of $100.36 and a 200-day moving average price of $108.69. 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 (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the company earned $1.43 EPS. Equities analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s dividend payout ratio is 13.13%.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated 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 in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Newmont stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NEM shares. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Bank of America decreased their target price on Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. BNP Paribas Exane lowered their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. UBS Group cut their price target on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.