Commerzbank Aktiengesellschaft FI Acquires Shares of 82,837 Newmont Corporation $NEM

Commerzbank Aktiengesellschaft FI bought a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 82,837 shares of the basic materials company’s stock, valued at approximately $7,737,000.

Several other large investors have also made changes to their positions in NEM. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the first quarter worth about $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont during the 1st quarter valued at about $25,000. Clearstead Trust LLC acquired a new position in Newmont during the 2nd quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the 4th quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the sale, the executive vice president owned 40,315 shares in the company, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM opened at $120.35 on Tuesday. Newmont Corporation has a 12 month low of $67.20 and a 12 month high of $134.88. The company has a fifty day simple moving average of $99.36 and a 200 day simple moving average of $108.81. The stock has a market cap of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the firm posted $1.43 earnings per share. On average, research analysts expect that Newmont Corporation will post 9 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders 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 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. Jefferies Financial Group dropped their price target on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. The Goldman Sachs Group lowered their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Citigroup dropped their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Macquarie Infrastructure cut their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, 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.