Generate Investment Management Ltd Purchases Shares of 301,110 Newmont Corporation (NYSE:NEM)

Generate Investment Management Ltd acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 301,110 shares of the basic materials company's stock, valued at approximately $14,538,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Brighton Jones LLC raised its holdings in shares of 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 in the last quarter. Principal Securities Inc. raised its holdings in shares of Newmont by 196.9% in the 4th quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after purchasing an additional 3,813 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Newmont by 329.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,972 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 1,513 shares in the last quarter. Howard Capital Management Inc. raised its holdings in shares of Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after purchasing an additional 292 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Newmont by 8.8% in the 4th quarter. IFP Advisors Inc now owns 57,505 shares of the basic materials company's stock valued at $2,142,000 after purchasing an additional 4,649 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NEM shares. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now owns 47,257 shares of the company's stock, valued at $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 over the last quarter. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 2.3%

NYSE NEM opened at $58.12 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The firm has a market cap of $64.69 billion, a PE ratio of 13.03, a P/E/G ratio of 0.78 and a beta of 0.31. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The firm's fifty day moving average is $54.02 and its two-hundred day moving average is $47.23.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period in the previous year, the business posted $0.55 earnings per share. Analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont's dividend payout ratio is presently 22.42%.

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.

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