21,551 Shares in Newmont Corporation $NEM Acquired by Wedbush Securities Inc.

Key Points

• Wedbush Securities acquired 21,551 Newmont shares worth approximately $450,000 during the second quarter. Institutional investors and hedge funds collectively own 68.85% of Newmont’s stock.
• Newmont insiders sold 25,209 shares valued at $2.57 million over the past 90 days, including sales by CEO Natascha Viljoen and EVP Peter Toth under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with Newmont receiving a consensus “Moderate Buy” rating and an average price target of $132.73. The company also reported quarterly EPS of $2.10, above estimates, and declared a $0.26 quarterly dividend.

Wedbush Securities Inc. purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,551 shares of the basic materials company's stock, valued at approximately $450,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP raised its holdings in Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Newmont in the second quarter valued at $240,000. Cerity Partners LLC lifted its stake in shares of Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock valued at $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock valued at $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business'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 transaction, the executive vice president directly owned 40,315 shares of the company's stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the 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 transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,209 shares of company stock valued at $2,567,701 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Newmont from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Canaccord Genuity Group decreased their price objective on Newmont from $160.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Citigroup lowered their price objective on Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, July 20th. TD raised their target price on Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group decreased their price target on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $132.73.

Newmont Trading Up 2.0%

NYSE:NEM opened at $125.13 on Thursday. Newmont Corporation has a 52 week low of $73.44 and a 52 week high of $135.29. The firm has a 50-day moving average price of $105.83 and a two-hundred day moving average price of $109.56. 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 $131.84 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during 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 prior year, the company posted $1.43 earnings per share. On average, equities analysts expect that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont's dividend payout ratio is 13.13%.

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