10,388 Shares in Newmont Corporation $NEM Purchased by Weaver Capital Management LLC

Weaver Capital Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, HoldingsChannel reports. The fund purchased 10,388 shares of the basic materials company’s stock, valued at approximately $1,198,000.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Newmont during the 2nd quarter worth approximately $11,289,753,000. Van ECK Associates Corp acquired a new stake in Newmont during the 2nd quarter valued at $671,197,000. Bank of New York Mellon Corp acquired a new stake in Newmont during the 2nd quarter valued at $1,219,505,000. First Eagle Investment Management LLC acquired a new stake in Newmont during the 2nd quarter valued at $241,820,000. Finally, Amundi purchased a new stake in shares of Newmont in the second quarter valued at $209,411,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $115.67 on Friday. 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 market cap of $121.88 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.07 and a beta of 0.51. The firm has a 50 day simple moving average of $121.96 and a 200 day simple moving average of $110.78. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

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, beating the consensus estimate 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 earned $1.43 EPS. Research analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 company’s stock in a transaction 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 trade represents a 5.43% decrease in their ownership of the stock. 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 a total of 35,973 shares of company stock worth $3,927,169 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. TD raised their target price on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group lowered their price target on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. National Bank Financial upped their price target on Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday, September 21st. UBS Group dropped their price target on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, BNP Paribas Exane reduced their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont 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.