Tandem Financial LLC Takes Position in Newmont Corporation $NEM

Tandem Financial LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 10,145 shares of the basic materials company’s stock, valued at approximately $948,000.

Several other institutional investors also recently bought and sold shares of NEM. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont during the first quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont in the first quarter worth approximately $25,000. Clearstead Trust LLC acquired a new stake in shares of Newmont in the second quarter worth approximately $25,000. Kilter Group LLC purchased a new stake in shares of Newmont during the second quarter worth approximately $26,000. Finally, Swiss RE Ltd. purchased a new stake in shares of Newmont during the fourth quarter worth approximately $26,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group reduced their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Macquarie Infrastructure decreased their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Finally, National Bank Financial decreased their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Price Performance

NYSE:NEM opened at $131.84 on Tuesday. Newmont Corporation has a one year low of $70.88 and a one year high of $134.88. The stock has a market cap of $138.92 billion, a PE ratio of 16.65, a P/E/G ratio of 1.36 and a beta of 0.47. 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 stock has a 50 day moving average price of $102.12 and a 200 day moving average price of $109.03.

Newmont (NYSE:NEM) last released 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. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities research analysts expect that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the company’s 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 of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is currently owned by 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.