Foster & Motley Inc. Purchases Shares of 4,760 Newmont Corporation $NEM

Foster & Motley Inc. acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,760 shares of the basic materials company’s stock, valued at approximately $445,000.

Several other large investors also recently made changes to their positions in NEM. First National Bank of Omaha acquired a new position in Newmont during the 2nd quarter worth approximately $5,917,000. Sagace Wealth Management LLC acquired a new stake in Newmont in the second quarter valued at approximately $248,000. Meeder Advisory Services Inc. acquired a new stake in Newmont in the second quarter valued at approximately $2,365,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter valued at approximately $9,387,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Newmont during the second quarter worth approximately $13,372,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 2.2%

Shares of Newmont stock opened at $127.86 on Friday. The company has a market capitalization of $134.72 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.47. The stock has a fifty day simple moving average of $100.96 and a 200 day simple moving average of $108.80. Newmont Corporation has a 12-month low of $68.90 and a 12-month high of $134.88. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

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, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the business earned $1.43 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NEM shares. BMO Capital Markets cut their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Barclays lowered their price objective on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. UBS Group dropped their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. National Bank Financial reduced their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Macquarie Infrastructure decreased their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 40,315 shares in the company, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their position. 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 32,091 shares of company stock valued at $3,292,513 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.