7,511 Shares of Newmont Corporation $NEM Bought by Nemes Rush Group LLC

Nemes Rush Group LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,511 shares of the basic materials company’s stock, valued at approximately $866,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $11,289,753,000. Van ECK Associates Corp acquired a new stake in shares of Newmont in the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmont in the 2nd quarter worth approximately $1,219,505,000. First Eagle Investment Management LLC purchased a new position in Newmont in the 2nd quarter valued at approximately $241,820,000. Finally, Amundi purchased a new position in Newmont in the 2nd quarter valued at approximately $209,411,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank reduced their price objective on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Jefferies Financial Group upped their target price on Newmont from $146.00 to $155.00 in a report on Friday, October 9th. Argus set a $110.00 price target on Newmont and gave the company a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings raised Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Finally, BMO Capital Markets boosted their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Stock Up 3.5%

NEM stock opened at $125.13 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The company’s 50 day simple moving average is $118.81 and its 200-day simple moving average is $112.51. Newmont Corporation has a 12 month low of $81.34 and a 12 month high of $135.29. The firm has a market capitalization of $130.03 billion, a PE ratio of 14.55, a P/E/G ratio of 2.15 and a beta of 0.56.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the firm posted $1.71 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend payout ratio is 12.09%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total value of $477,486.00. Following the sale, the chief executive officer directly owned 131,353 shares in the company, valued at $16,156,419. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares in the company, valued at $3,383,272.60. This represents a 8.74% 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. Insiders have sold 20,646 shares of company stock valued at $2,380,140 in the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Company Profile