Newmont Corporation $NEM Shares Newly Purchased by Cox Capital Mgt LLC

Cox Capital Mgt LLC bought a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 13,962 shares of the basic materials company’s stock, valued at approximately $1,610,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the 1st quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont in the first quarter valued at $25,000. GoalVest Advisory LLC bought a new position in Newmont in the third quarter worth about $28,000. Clearstead Trust LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $25,000. Finally, Kilter Group LLC bought a new stake in shares of Newmont during the 2nd quarter valued at $26,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 2.4%

Shares of NYSE NEM traded down $2.83 during trading hours on Wednesday, reaching $113.56. The stock had a trading volume of 4,344,534 shares, compared to its average volume of 8,681,464. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29. 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 firm has a market cap of $119.66 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.62 and a beta of 0.51. The business’s fifty day moving average price is $119.95 and its two-hundred day moving average price is $110.09.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $1.43 EPS. Analysts expect that Newmont Corporation will post 9.09 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEM. Raymond James Financial restated an “outperform” rating and set a $140.00 price target on shares of Newmont in a report on Monday, August 24th. Macquarie Infrastructure decreased their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. The Goldman Sachs Group dropped 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. Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $134.26.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.