Ninety One SA PTY Ltd Invests $2.98 Million in Newmont Corporation $NEM

Key Points

• Ninety One SA PTY Ltd invested approximately $2.98 million in Newmont Corporation by purchasing 51,129 shares in the 2nd quarter, indicating growing institutional interest in the company.
• CAO Brian Tabolt and Director Bruce R. Brook recently sold shares of Newmont, with Tabolt selling 7,015 shares and Brook selling 2,077 shares, reflecting a decrease in their respective holdings.
• Analysts provide mixed ratings on Newmont, with UBS Group upgrading the price target to $92.00 while Zacks Research downgraded it to a "hold," leading to an average rating of "Moderate Buy."

Ninety One SA PTY Ltd purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 51,129 shares of the basic materials company's stock, valued at approximately $2,979,000.

Other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Newmont during the 1st quarter valued at approximately $26,000. Colonial Trust Advisors lifted its holdings in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA lifted its holdings in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Newmont during the first quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the transaction, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. The trade was a 5.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,169 shares of company stock worth $955,286 in the last ninety days. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on NEM shares. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. UBS Group increased their price target on Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. BNP Paribas lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Scotiabank upped their price objective on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.38.

Newmont Stock Performance

NEM stock opened at $84.29 on Wednesday. The business's fifty day simple moving average is $72.97 and its two-hundred day simple moving average is $60.37. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $92.59 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.98 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 30.50% and a return on equity of 17.86%. The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

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