Retirement Planning Co of New England Inc. Makes New Investment in Newmont Corporation $NEM

Retirement Planning Co of New England Inc. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The institutional investor purchased 10,670 shares of the basic materials company’s stock, valued at approximately $1,231,000.

Several other institutional investors have also recently made changes to their positions in NEM. Northwestern Mutual Wealth Management Co. purchased a new position in Newmont during the second quarter valued at approximately $36,180,000. Asset One Wealth Management LLC purchased a new stake in Newmont in the 2nd quarter worth $2,866,000. Private Advisory Group LLC purchased a new stake in Newmont in the 2nd quarter worth $10,430,000. Commerce Bank bought a new stake in Newmont during the second quarter valued at about $3,418,000. Finally, Capital Financial Group Inc. Co. ADV bought a new stake in Newmont during the second quarter valued at about $1,135,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,973 shares of company stock valued at $3,927,169 over the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NEM traded up $2.59 during mid-day trading on Thursday, hitting $114.15. 2,808,233 shares of the stock were exchanged, compared to its average volume of 8,555,875. The firm has a 50-day moving average of $121.75 and a two-hundred day moving average of $110.69. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29. The company has a market cap of $120.28 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last posted its earnings results 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. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the firm posted $1.43 EPS. On average, equities analysts predict that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on NEM shares. BNP Paribas Exane lowered their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a report on Friday, August 14th. TD upped their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Profile

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.