Sienna Gestion Makes New $1.19 Million Investment in Newmont Corporation $NEM

Key Points

• Sienna Gestion made a significant new investment in Newmont Corporation, purchasing 25,271 shares valued at approximately $1.19 million.
• Newmont announced a quarterly dividend of $0.25 per share, with a dividend yield of 1.5%.
• Recent earnings results for Newmont showed a strong performance with an EPS of $1.43, significantly beating the consensus estimate of $0.95.

Sienna Gestion acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,271 shares of the basic materials company's stock, valued at approximately $1,186,000.

A number of other large investors also recently bought and sold shares of the business. Hemington Wealth Management raised its stake in Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after buying an additional 194 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in shares of Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after buying an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Rothschild Investment LLC lifted its position in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the period. Finally, Twin Capital Management Inc. raised its position in shares of Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after acquiring an additional 254 shares during the period. Institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. Royal Bank Of Canada upped their price objective on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Raymond James Financial upped their price target on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was 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 in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,246 shares of company stock valued at $1,373,251. Company insiders own 0.05% of the company's stock.

Newmont Trading Down 2.6%

Shares of Newmont stock traded down $1.7750 during mid-day trading on Tuesday, hitting $67.2250. The stock had a trading volume of 5,118,694 shares, compared to its average volume of 11,869,141. The firm has a 50-day moving average of $61.31 and a two-hundred day moving average of $53.44. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $70.29. 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 $73.84 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business's revenue for the quarter was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Newmont 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.