Newmont Corporation $NEM Shares Newly Acquired by Generate Investment Management Ltd

Generate Investment Management Ltd bought a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, Holdings Channel reports. The firm bought 150,000 shares of the basic materials company’s stock, valued at approximately $17,301,000.

A number of other institutional investors have also modified their holdings of the stock. Koa Wealth Management LLC purchased a new stake in shares of Newmont in the third quarter valued at about $4,432,000. First Citizens Bank & Trust Co. acquired a new position in shares of Newmont during the third quarter worth about $1,612,000. KMG Fiduciary Partners LLC purchased a new position in Newmont during the third quarter worth about $276,000. Krilogy Financial LLC raised its holdings in Newmont by 19.4% during the third quarter. Krilogy Financial LLC now owns 20,354 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 3,309 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC purchased a new position in Newmont during the third quarter worth about $242,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated 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 sale, the chief financial officer 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NEM. Barclays dropped their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Royal Bank Of Canada lifted their price target on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. National Bank Financial lifted their price target on Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, September 21st. Finally, Canadian Imperial Bank of Commerce set a $170.00 price objective on Newmont in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Price Performance

NYSE:NEM traded down $4.51 during mid-day trading on Wednesday, hitting $111.08. 2,292,003 shares of the company’s stock traded hands, compared to its average volume of 8,562,386. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm’s 50 day simple moving average is $121.61 and its 200 day simple moving average is $110.60. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The company has a market cap of $117.04 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations 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 9.05 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.