110,758 Shares in Newmont Corporation $NEM Bought by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 110,758 shares of the basic materials company's stock, valued at approximately $2,315,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Northwestern Mutual Wealth Management Co. acquired a new position in Newmont during the 2nd quarter worth approximately $8,096,000. Wedbush Securities Inc. acquired a new stake in Newmont in the 2nd quarter valued at $450,000. Meiji Yasuda Life Insurance Co bought a new stake in Newmont during the 2nd quarter valued at $135,000. Hennessy Advisors Inc. acquired a new position in Newmont during the second quarter worth $889,000. Finally, Hollencrest Capital Management acquired a new position in Newmont during the second quarter worth $1,232,000. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. The Goldman Sachs Group lowered their target price on shares of Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Wall Street Zen lowered Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. National Bank Financial dropped their target price on Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada decreased their price target on Newmont from $140.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Two 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $132.73.

Newmont Price Performance

NEM opened at $127.84 on Friday. Newmont Corporation has a fifty-two week low of $72.78 and a fifty-two week high of $135.29. The firm has a 50-day moving average of $104.23 and a 200 day moving average of $109.57. 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 has a market cap of $134.70 billion, a P/E ratio of 16.14, a PEG ratio of 1.32 and a beta of 0.47.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS 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 analysts' expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, research analysts expect that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given 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 (DPR) is currently 13.13%.

Insider Buying and Selling at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% 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 a total of 32,091 shares of company stock worth $3,292,513 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

About Newmont

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source