55,253 Shares in Newmont Corporation $NEM Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 55,253 shares of the basic materials company’s stock, valued at approximately $1,155,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP raised its holdings in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC boosted its position in Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 3,856 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on NEM shares. Bank of America decreased their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $170.00 price objective on Newmont in a report on Friday, August 14th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, National Bank Financial reduced their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.73.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the firm’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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont 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 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 SEC filing for this sale provides additional information. 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 owned by company insiders.

Newmont Trading Down 1.6%

NEM opened at $125.87 on Tuesday. Newmont Corporation has a twelve month low of $72.78 and a twelve month high of $135.29. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $104.71 and a 200-day moving average of $109.53. The stock has a market cap of $132.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47.

Newmont (NYSE:NEM) last announced 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 business had revenue of $6.12 billion during 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 quarter last year, the firm earned $1.43 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given 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 0.8%. Newmont’s dividend payout ratio (DPR) is 13.13%.

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.