Citizens Financial Group Inc. RI Invests $13.37 Million in Newmont Corporation $NEM

Citizens Financial Group Inc. RI bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 143,171 shares of the basic materials company’s stock, valued at approximately $13,372,000.

A number of other large investors also recently bought and sold shares of NEM. Leonteq Securities AG purchased a new stake in Newmont during the fourth quarter worth $9,018,000. ARS Investment Partners LLC increased its holdings in Newmont by 3.6% in the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Newmont by 37.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock worth $21,440,000 after acquiring an additional 58,690 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Newmont by 156.9% during the 4th quarter. iA Global Asset Management Inc. now owns 221,790 shares of the basic materials company’s stock worth $22,146,000 after acquiring an additional 135,446 shares in the last quarter. Finally, Private Advisory Group LLC purchased a new stake in shares of Newmont during the 2nd quarter worth about $10,430,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on 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 owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. The Goldman Sachs Group lowered their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Citigroup dropped their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Raymond James Financial cut their price objective on Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Finally, UBS Group decreased their target price on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.59.

Newmont Stock Up 2.2%

NEM opened at $120.35 on Tuesday. Newmont Corporation has a twelve month low of $67.20 and a twelve month high of $134.88. 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 50-day moving average price of $99.36 and a 200 day moving average price of $108.81. The company has a market cap of $126.81 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47.

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

Newmont Dividend Announcement

The company also recently announced 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. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

About Newmont

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.