Howe & Rusling Inc. Acquires New Position in Newmont Corporation $NEM

Key Points

• Howe & Rusling Inc. acquired 5,353 shares of Newmont Corporation ($NEM), valued at approximately $258,000, during the first quarter of the year.
• Newmont reported $1.43 earnings per share for the last quarter, exceeding analysts' expectations of $0.95, alongside a 20.8% year-over-year revenue increase to $5.32 billion.
• The company announced a quarterly dividend of $0.25 per share, set to be paid on September 29th, with a current dividend yield of 1.3%.

Howe & Rusling Inc. acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,353 shares of the basic materials company's stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. Nuveen LLC purchased a new stake in shares of Newmont in the first quarter worth approximately $306,507,000. Pacer Advisors Inc. raised its stake in shares of Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter worth approximately $92,693,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock worth $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Newmont in the fourth quarter worth approximately $75,435,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. CIBC set a $74.00 price target on Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Scotiabank increased their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $67.38.

Newmont Stock Performance

Shares of Newmont stock traded up $0.15 during trading hours on Monday, reaching $79.40. The company had a trading volume of 12,126,511 shares, compared to its average volume of 8,585,552. Newmont Corporation has a one year low of $36.86 and a one year high of $80.07. The business has a fifty day simple moving average of $67.84 and a 200 day simple moving average of $57.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market cap of $87.22 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.72 earnings per share. The business's revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the sale, the director owned 38,949 shares in the company, valued at $2,905,205.91. The trade was a 5.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,246 shares of company stock worth $1,253,559. Corporate insiders own 0.05% of the company's stock.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.