Hartree Partners LP Buys Shares of 22,000 Newmont Corporation $NEM

Key Points

• Hartree Partners LP made a new investment in Newmont Corporation, purchasing 22,000 shares valued at approximately $1.06 million, making it the firm's 29th largest position.
• Significant upgrades from various analysts include a rise from "hold" to "strong-buy" by National Bank Financial, with Newmont's consensus rating currently being "Moderate Buy" and a price target of $64.58.
• Newmont Corporation announced a quarterly dividend of $0.25 per share, yielding 1.4%, with the ex-dividend date set for September 4th.

Hartree Partners LP acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,000 shares of the basic materials company's stock, valued at approximately $1,062,000. Newmont makes up 0.4% of Hartree Partners LP's investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. SOA Wealth Advisors LLC. raised its stake in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont during the 1st quarter worth approximately $26,000. Colonial Trust Advisors raised its stake in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC bought a new stake in shares of Newmont during the 1st quarter worth approximately $31,000. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEM. Royal Bank Of Canada increased their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank increased their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Newmont Stock Performance

NEM stock traded up $0.01 during trading hours on Wednesday, hitting $72.44. 8,987,521 shares of the stock were exchanged, compared to its average volume of 11,750,820. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $79.57 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.84 and a beta of 0.30. The company has a 50-day simple moving average of $63.00 and a two-hundred day simple moving average of $54.46. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $72.79.

Newmont (NYSE:NEM - Get Free Report) last posted 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 firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the sale, the director directly owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,246 shares of company stock valued at $1,373,251. 0.05% of the stock is owned by corporate insiders.

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.