Strengthening Families & Communities LLC Invests $872,000 in Newmont Corporation $NEM

Strengthening Families & Communities LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 41,735 shares of the basic materials company’s stock, valued at approximately $872,000.

Several other large investors have also recently made changes to their positions in NEM. BlackRock Inc. purchased a new position in Newmont in the second quarter valued at $11,289,753,000. State Street Corp grew its position in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after acquiring an additional 480,223 shares during the period. Van ECK Associates Corp purchased a new position in shares of Newmont in the 2nd quarter valued at about $671,197,000. Geode Capital Management LLC raised its holdings in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after purchasing an additional 946,824 shares during the period. Finally, Norges Bank acquired a new position in Newmont in the 4th quarter worth about $1,443,128,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly 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 transaction 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 company’s 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 completion of the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at $3,767,436.75. This trade 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 have sold 25,209 shares of company stock valued at $2,567,701 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on NEM shares. BMO Capital Markets dropped their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Royal Bank Of Canada decreased their target price on Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a report on Friday, August 14th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group decreased their price objective on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.73.

Newmont Stock Up 2.0%

NYSE NEM opened at $125.13 on Thursday. The business has a fifty day moving average price of $105.83 and a 200 day moving average price of $109.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market cap of $131.84 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.73 and a beta of 0.52. Newmont Corporation has a one year low of $73.44 and a one year high of $135.29.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Research analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio is presently 13.13%.

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.