Haverford Trust Co Invests $230,000 in Newmont Corporation $NEM

Key Points

• Haverford Trust Co has invested approximately $230,000 in Newmont Corporation by acquiring 4,773 shares in the first quarter.
• Newmont Corporation reported an earnings per share (EPS) of $1.43, exceeding estimates by $0.48, with revenue increasing 20.8% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 1.4%.

Haverford Trust Co bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,773 shares of the basic materials company's stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of NEM. Nuveen LLC purchased a new stake in shares of Newmont during the first quarter worth about $306,507,000. Pacer Advisors Inc. boosted its holdings in shares of Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $92,693,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Newmont during the fourth quarter worth about $75,435,000. Finally, Man Group plc boosted its holdings in shares of Newmont by 42.2% during the fourth quarter. Man Group plc now owns 5,030,228 shares of the basic materials company's stock worth $187,225,000 after purchasing an additional 1,493,843 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NEM shares. Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective on the stock. CIBC set a $74.00 price objective on Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. UBS Group lifted their price objective on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their price objective on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $64.58.

Newmont Price Performance

NEM stock opened at $70.6610 on Monday. The firm has a 50 day moving average price of $62.46 and a 200-day moving average price of $54.15. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $71.10. The firm has a market capitalization of $77.62 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.84 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

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

Newmont Announces Dividend

The firm 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 is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Activity

In related news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were 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 $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,246 shares of company stock worth $1,373,251. Insiders own 0.05% of the company's stock.

About Newmont

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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