11,557 Shares in Newmont Corporation $NEM Bought by Stableford Capital II LLC

Key Points

• Stableford Capital II LLC acquired 11,557 Newmont shares worth approximately $1.33 million in the third quarter. Institutional investors collectively own 68.85% of Newmont’s outstanding stock.
• Newmont reported quarterly EPS of $2.10, exceeding analyst expectations of $2.05, while revenue of $6.12 billion fell short of the $6.35 billion consensus estimate.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $134.26, compared with the stock’s reported price of $115.46.

Stableford Capital II LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,557 shares of the basic materials company's stock, valued at approximately $1,333,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Newmont during the second quarter worth $11,289,753,000. State Street Corp increased its position in shares of Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after buying an additional 480,223 shares in the last quarter. Van ECK Associates Corp raised its stake in Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares during the period. Bank of New York Mellon Corp lifted its holdings in Newmont by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock worth $1,324,757,000 after acquiring an additional 615,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Newmont by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock worth $1,012,792,000 after acquiring an additional 184,586 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

NEM stock opened at $115.46 on Friday. The stock has a 50-day moving average price of $120.34 and a two-hundred day moving average price of $110.23. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The stock has a market cap of $121.66 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating 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 period in the previous year, the company posted $1.43 earnings per share. Equities analysts forecast that Newmont Corporation will post 9.1 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's dividend payout ratio (DPR) is currently 13.13%.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 of the company's stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. This represents a 8.04% 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. In the last quarter, insiders have sold 35,973 shares of company stock worth $3,927,169. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. UBS Group lowered their price target on Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. TD lifted their price objective on Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Scotiabank boosted their price objective on Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Argus set a $110.00 target price on Newmont in a research note on Monday, August 3rd. Finally, Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average target price of $134.26.

About Newmont

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.

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