Retirement Planning Co of New England Inc. Makes New Investment in Newmont Corporation $NEM

Key Points

• Retirement Planning Co. of New England acquired 10,670 Newmont shares worth approximately $1.23 million, while institutional investors collectively own 68.85% of the company.
• Newmont shares recently rose 2.3% to $114.15. The company reported quarterly EPS of $2.10, beating estimates by $0.05, and analysts hold a consensus “Moderate Buy” rating with a $134.26 price target.
• Newmont declared a quarterly dividend of $0.26, equivalent to an annualized $1.04 payout and a 0.9% yield; company insiders sold 35,973 shares worth about $3.93 million during the latest quarter.

Retirement Planning Co of New England Inc. acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,670 shares of the basic materials company's stock, valued at approximately $1,231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Newmont in the second quarter worth about $11,289,753,000. State Street Corp boosted its position in Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock valued at $4,893,852,000 after acquiring an additional 1,565,716 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock worth $1,324,757,000 after acquiring an additional 615,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock worth $1,012,792,000 after acquiring an additional 184,586 shares during the period. Finally, Amundi raised its position in shares of Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company's stock worth $950,519,000 after acquiring an additional 372,415 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 2.3%

Shares of NYSE:NEM traded up $2.59 during trading on Thursday, reaching $114.15. 2,808,233 shares of the stock traded hands, compared to its average volume of 8,555,875. The stock has a market cap of $120.28 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a 50-day moving average of $121.75 and a two-hundred day moving average of $110.69. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the business earned $1.43 EPS. As a group, sell-side analysts expect that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio (DPR) is presently 13.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a research note on Friday, August 14th. National Bank Financial raised their price objective on Newmont from $120.00 to $140.00 and gave the company a "sector perform" rating in a research report on Monday, September 21st. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. Finally, Scotiabank lifted their price target on shares of Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.26.

Insiders Place Their Bets

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer directly owned 127,471 shares of the company's stock, valued at $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company's stock.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.