Mufg Securities Americas Inc. Makes New Investment in Newmont Corporation $NEM

Mufg Securities Americas Inc. acquired a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,153 shares of the basic materials company’s stock, valued at approximately $672,000.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont in the first quarter valued at $25,000. Clearstead Trust LLC bought a new position in shares of Newmont in the second quarter valued at about $25,000. Kilter Group LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $26,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Newmont during the 4th quarter worth about $26,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on NEM shares. Royal Bank Of Canada decreased their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets reduced their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Jefferies Financial Group decreased their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. BNP Paribas Exane lowered their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Finally, Argus set a $110.00 price target on Newmont in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.73.

Newmont Price Performance

Shares of Newmont stock opened at $125.87 on Tuesday. 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 stock has a market capitalization of $132.63 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. Newmont Corporation has a twelve month low of $72.78 and a twelve month high of $135.29. The company has a 50-day simple moving average of $104.71 and a two-hundred day simple moving average of $109.53.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.43 EPS. Analysts forecast that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given 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 0.8%. Newmont’s dividend payout ratio is currently 13.13%.

Insider Buying and Selling

In other news, CFO Brian Tabolt sold 11,445 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% 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 25,209 shares of company stock valued at $2,567,701 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

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.