Sivia Capital Partners LLC Makes New $240,000 Investment in Newmont Corporation $NEM

Key Points

• Sivia Capital Partners LLC has made a new investment of $240,000 in Newmont Corporation, acquiring 4,123 shares during the second quarter.
• A number of institutional investors are increasing their stakes in Newmont, with Bank of New York Mellon boosting its holdings by 8.9% in the first quarter.
• Newmont's share price recently opened at $81.68, with a 1-year high of $82.05, while its quarterly earnings report showed substantial growth, with earnings per share surpassing estimates at $1.43.

Sivia Capital Partners LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,123 shares of the basic materials company's stock, valued at approximately $240,000.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares during the last quarter. State of Wyoming bought a new stake in shares of Newmont in the 4th quarter worth approximately $179,000. Vident Advisory LLC lifted its holdings in shares of Newmont by 7.3% in the 4th quarter. Vident Advisory LLC now owns 44,520 shares of the basic materials company's stock worth $1,657,000 after purchasing an additional 3,031 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Newmont in the 4th quarter worth approximately $2,545,000. Finally, Waverly Advisors LLC lifted its holdings in shares of Newmont by 13.6% in the 4th quarter. Waverly Advisors LLC now owns 64,627 shares of the basic materials company's stock worth $2,405,000 after purchasing an additional 7,744 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent research reports. Raymond James Financial raised their target price on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Finally, BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $72.31.

Newmont Trading Up 4.3%

NYSE NEM traded up $3.36 on Friday, hitting $81.68. 42,531,051 shares of the company were exchanged, compared to its average volume of 9,262,297. The company's 50 day moving average price is $69.47 and its 200-day moving average price is $58.42. 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 $89.72 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $82.05.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm's revenue was up 20.8% compared to the same quarter last year. Analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company's 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 directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,246 shares of company stock valued at $1,253,559 in the last three months. 0.05% of the stock is currently owned by company insiders.

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.