LVM Capital Management Ltd. MI Invests $621,000 in Newmont Corporation $NEM

Key Points

• LVM Capital Management Ltd. has invested $621,000 in Newmont Corporation, acquiring 10,665 shares during the second quarter.
• Newmont recently announced a $0.25 quarterly dividend, translating to an annual yield of 1.3% with a payout ratio of 17.95%.
• Analyst ratings for Newmont show a consensus rating of "Moderate Buy" with a target price of $67.38, reflecting mixed sentiment among investment analysts.

LVM Capital Management Ltd. MI purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,665 shares of the basic materials company's stock, valued at approximately $621,000.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after buying an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Newmont in the first quarter worth $423,000. Spire Wealth Management lifted its position in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Newmont in the first quarter worth $202,000. Finally, Bayforest Capital Ltd lifted its position in Newmont by 269.4% in the first quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock worth $426,000 after buying an additional 6,439 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Macquarie downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. Raymond James Financial boosted their target price on shares of Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.38.

Newmont Stock Performance

Shares of Newmont stock opened at $79.25 on Friday. 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 stock's fifty day moving average price is $67.46 and its 200-day moving average price is $57.05. The firm has a market cap of $87.05 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.96 and a beta of 0.34. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $80.07.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Newmont's payout ratio is 17.95%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 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 $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on 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 transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock worth $1,253,559 over the last 90 days. Company 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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