Global Retirement Partners LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• Global Retirement Partners LLC acquired 19,840 Newmont shares worth approximately $1.85 million during the second quarter. Institutional investors collectively own 68.85% of Newmont’s stock.
• Analysts maintain a generally positive outlook, with Newmont carrying a “Moderate Buy” consensus rating and an average price target of $132.59, despite several recent target reductions.
• Newmont reported quarterly EPS of $2.10, beating estimates of $2.05, and declared a quarterly dividend of $0.26 per share, equivalent to a 0.9% annualized yield.

Global Retirement Partners LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 19,840 shares of the basic materials company's stock, valued at approximately $1,853,000.

A number of other institutional investors have also modified their holdings of NEM. Novem Group grew its stake in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after buying an additional 88 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after acquiring an additional 96 shares during the period. Coston McIsaac & Partners boosted its holdings in Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company's stock worth $44,000 after acquiring an additional 100 shares during the period. Creative Financial Designs Inc. ADV grew its position in Newmont by 6.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company's stock valued at $164,000 after acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company's stock worth $1,861,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company's stock, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares in the company, valued at approximately $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 have sold 32,091 shares of company stock valued at $3,292,513 over the last quarter. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NEM shares. National Bank Financial cut their price target on Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Jefferies Financial Group dropped their price objective on Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Royal Bank Of Canada reduced their target price on Newmont from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, BMO Capital Markets decreased their price target on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, June 23rd. Two research 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, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $132.59.

Newmont Stock Up 2.2%

Shares of Newmont stock opened at $120.35 on Tuesday. The business has a 50-day moving average price of $99.36 and a 200 day moving average price of $108.81. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88. The firm has a market cap of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the business posted $1.43 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio is 13.13%.

Newmont 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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