7,600 Shares in Newmont Corporation (NYSE:NEM) Acquired by one8zero8 LLC

Key Points

• one8zero8 LLC has acquired a new position in Newmont Corporation, purchasing 7,600 shares valued at approximately $367,000.
• Newmont recently announced a quarterly dividend of $0.25 per share, with a dividend yield of 1.52%.
• Analysts have varying ratings on Newmont, with a consensus rating of "Moderate Buy" and an average target price set at $62.49.

one8zero8 LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,600 shares of the basic materials company's stock, valued at approximately $367,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Korea Investment CORP grew its stake in Newmont by 76.7% in the 4th quarter. Korea Investment CORP now owns 999,815 shares of the basic materials company's stock worth $37,213,000 after buying an additional 433,994 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Newmont by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,816,370 shares of the basic materials company's stock worth $69,222,000 after buying an additional 105,538 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Newmont by 36.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 92,150 shares of the basic materials company's stock valued at $3,430,000 after buying an additional 24,593 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its holdings in shares of Newmont by 31.2% during the 4th quarter. NEOS Investment Management LLC now owns 67,960 shares of the basic materials company's stock worth $2,529,000 after acquiring an additional 16,174 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 1.1%

Newmont stock traded down $0.73 during mid-day trading on Wednesday, reaching $63.27. 4,457,769 shares of the company traded hands, compared to its average volume of 12,168,911. The firm's 50 day moving average price is $57.54 and its 200 day moving average price is $50.89. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $66.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market capitalization of $69.49 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.91 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping 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 analysts' expectations of $4.70 billion. During the same period last year, the company posted $0.72 EPS. The company's quarterly revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared 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 is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Newmont's payout ratio is 17.95%.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday. Raymond James Financial increased their price target on shares of Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by company insiders.

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.