Hara Capital LLC Purchases Shares of 22,887 Newmont Corporation $NEM

Hara Capital LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,887 shares of the basic materials company’s stock, valued at approximately $2,138,000. Newmont comprises approximately 1.1% of Hara Capital LLC’s portfolio, making the stock its 27th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the 1st quarter worth approximately $25,000. Clearstead Trust LLC bought a new stake in shares of Newmont in the second quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the fourth quarter worth about $26,000. Finally, Cornerstone Planning Group LLC raised its stake in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. BNP Paribas Exane reduced their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. BMO Capital Markets decreased their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, UBS Group dropped their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.59.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at $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. In the last quarter, insiders sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 2.2%

Shares of NEM stock opened at $127.86 on Friday. Newmont Corporation has a 1 year low of $68.90 and a 1 year high of $134.88. 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 business’s fifty day moving average is $100.96 and its 200-day moving average is $108.80. The stock has a market cap of $134.72 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.47.

Newmont (NYSE:NEM) last announced 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Equities analysts expect that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

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.