Capital Financial Group Inc. Co. ADV Acquires Shares of 12,154 Newmont Corporation $NEM

Key Points

• Capital Financial Group acquired 12,154 Newmont shares worth approximately $1.14 million during the second quarter. Institutional investors own 68.85% of Newmont’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $132.59, despite several recent target reductions.
• Newmont reported quarterly earnings of $2.10 per share, slightly exceeding estimates, and declared a quarterly dividend of $0.26 per share, representing a 0.9% annualized yield.

Capital Financial Group Inc. Co. ADV acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,154 shares of the basic materials company's stock, valued at approximately $1,135,000.

Other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new position in Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the 1st quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in Newmont during the 2nd quarter worth about $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter worth about $26,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NEM shares. Canaccord Genuity Group dropped their price objective on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. BNP Paribas Exane lowered their price target on Newmont from $111.00 to $102.00 and set a "neutral" rating for the company in a report on Tuesday, July 21st. The Goldman Sachs Group dropped their price target on shares of Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Argus set a $110.00 price objective on shares of Newmont in a report on Monday, August 3rd. Finally, TD Securities raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $132.59.

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 on Wednesday, August 5th. The shares were 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 in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares of the company's stock, valued at $3,767,436.75. This trade represents a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 in the last ninety days. Insiders own 0.06% of the company's stock.

Newmont Trading Up 2.2%

Shares of Newmont stock opened at $120.35 on Tuesday. 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 company has a market capitalization of $126.81 billion, a P/E ratio of 15.20, a PEG ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 1 year low of $67.20 and a 1 year high of $134.88. The company's fifty day moving average is $99.36 and its two-hundred day moving average is $108.81.

Newmont (NYSE:NEM - Get Free Report) last announced its 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. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same period in the prior year, the company earned $1.43 earnings per share. Analysts forecast that Newmont Corporation will post 9 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 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont's dividend payout ratio is currently 13.13%.

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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