100,504 Shares in Newmont Corporation $NEM Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 100,504 shares of the basic materials company’s stock, valued at approximately $9,387,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new stake in Newmont during the second quarter worth about $13,372,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $4,744,000. NINE MASTS CAPITAL Ltd acquired a new stake in Newmont in the second quarter valued at $413,000. Auxano Advisors LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $3,864,000. Finally, Focused Alpha LLC acquired a new stake in Newmont during the second quarter worth approximately $215,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the business’s 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 of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 dated 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 transaction, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This 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. In the last ninety days, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

NYSE:NEM opened at $120.35 on Tuesday. The firm has a 50 day simple moving average of $99.36 and a 200-day simple moving average of $108.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market cap of $126.81 billion, a PE ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 1-year low of $67.20 and a 1-year high of $134.88.

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

Newmont Dividend Announcement

The business 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 dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NEM. Raymond James Financial cut their target price on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Macquarie Infrastructure cut their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Argus set a $110.00 price target on shares of Newmont in a report on Monday, August 3rd. Finally, Bank of America reduced their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.59.

Newmont 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.