MBB Public Markets I LLC Invests $320,000 in Newmont Corporation $NEM

Key Points

• MBB Public Markets I LLC acquired 6,618 shares of Newmont Corporation for approximately $320,000, highlighting continued interest from institutional investors.
• Newmont's quarterly earnings surpassed expectations with earnings per share of $1.43, significantly higher than the consensus estimate of $0.95.
• Recent insider sales include EVP Peter Toth selling 3,000 shares, indicating a 4.86% decrease in his holdings of the company.

MBB Public Markets I LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,618 shares of the basic materials company's stock, valued at approximately $320,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hemington Wealth Management boosted its holdings in Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. boosted its holdings in Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded down $0.40 during mid-day trading on Friday, hitting $79.25. 8,282,397 shares of the stock traded hands, compared to its average volume of 8,566,614. The firm has a market cap of $87.05 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company's 50-day simple moving average is $67.46 and its 200-day simple moving average is $57.05. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $80.07.

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

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. National Bankshares raised Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. CIBC set a $74.00 target price on Newmont and gave the stock a "neutral" rating in a report on Tuesday, July 15th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Raymond James Financial raised their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.38.

Newmont 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.