119,302 Shares in Newmont Corporation $NEM Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC acquired 119,302 Newmont shares worth approximately $11.1 million during the second quarter, while institutional investors collectively own 68.85% of the company.
• Analyst sentiment remains positive overall, with Newmont receiving a “Moderate Buy” consensus rating and an average price target of $132.73, despite some recent downgrades and target-price reductions.
• Newmont exceeded quarterly EPS expectations with $2.10 per share, though revenue fell short of estimates. The company also declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% annualized yield.

Sanctuary Advisors LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 119,302 shares of the basic materials company's stock, valued at approximately $11,143,000.

Several other large investors also recently bought and sold shares of the company. Polymer Capital Management HK LTD purchased a new stake in Newmont during the 2nd quarter worth approximately $220,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Newmont in the second quarter valued at approximately $56,740,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Newmont in the second quarter worth approximately $3,932,000. Te Ahumairangi Investment Management Ltd acquired a new stake in shares of Newmont in the second quarter worth approximately $6,286,000. Finally, Pinnacle Holdings LLC purchased a new stake in shares of Newmont during the second quarter worth approximately $37,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on NEM shares. TD Securities raised Newmont from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Argus set a $110.00 target price on shares of Newmont in a research note on Monday, August 3rd. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Canaccord Genuity Group reduced their target price on shares of Newmont from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. 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 data from MarketBeat, the stock 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 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 $138.92 billion, a PE ratio of 16.65, a P/E/G ratio of 1.36 and a beta of 0.47. 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 - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the business 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 Transactions at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 29,324 shares of the company's stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 in the last quarter. Company insiders own 0.06% of the company's stock.

Newmont Company 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.

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