Newmont Corporation $NEM Shares Bought by Oak Family Advisors LLC

Key Points

• Oak Family Advisors LLC significantly increased its stake in Newmont Corporation by 91.4% during the second quarter, holding a total of 67,309 shares, valued at approximately $3.9 million.
• Several institutional investors, including Nuveen LLC and Pacer Advisors Inc., have made substantial investments or increases in their positions in Newmont, contributing to institutional ownership which currently stands at 68.85%.
• Newmont recently declared a quarterly dividend of $0.25 per share, which translates to an annualized dividend yield of 1.2%.

Oak Family Advisors LLC boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 91.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,309 shares of the basic materials company's stock after buying an additional 32,139 shares during the quarter. Newmont accounts for approximately 1.2% of Oak Family Advisors LLC's portfolio, making the stock its 27th largest holding. Oak Family Advisors LLC's holdings in Newmont were worth $3,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Nuveen LLC acquired a new position in Newmont during the first quarter worth about $306,507,000. Pacer Advisors Inc. grew its position in 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 buying an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. grew its position in Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company's stock worth $273,391,000 after buying an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock worth $116,416,000 after buying an additional 2,206,017 shares during the period. Finally, Panagora Asset Management Inc. grew its position in Newmont by 21,069.5% during the first quarter. Panagora Asset Management Inc. now owns 1,357,812 shares of the basic materials company's stock worth $65,555,000 after buying an additional 1,351,398 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. Scotiabank increased their price target on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. CIBC raised their price objective on shares of Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, September 12th. Finally, BNP Paribas Exane raised their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.38.

Insider Buying and Selling at Newmont

In other Newmont news, 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 transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the transaction, the director owned 38,949 shares in the company, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,169 shares of company stock worth $955,286 in the last quarter. 0.05% of the stock is owned by insiders.

Newmont Stock Down 0.8%

Shares of NYSE NEM opened at $84.59 on Tuesday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93. The firm's 50 day moving average price is $72.52 and its 200 day moving average price is $60.20. The firm has a market cap of $92.92 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. 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 announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) 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 firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the business earned $0.72 earnings per share. Newmont's revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.