Stableford Capital II LLC Takes Position in Newmont Corporation $NEM

Key Points

• Stableford Capital II LLC has acquired a new position in Newmont Corporation, purchasing 18,201 shares valued at approximately $1,060,000 in the second quarter.
• The latest earnings report for Newmont showed an impressive 20.8% increase in revenue year-over-year, with earnings per share of $1.43, exceeding the consensus estimates by $0.48.
• Newmont announced a quarterly dividend of $0.25, reflecting an annualized payout of $1.00 and a yield of 1.1%, with a payout ratio of 17.95%.

Stableford Capital II LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 18,201 shares of the basic materials company's stock, valued at approximately $1,060,000.

Several other large investors have also bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Newmont during the 1st quarter valued at approximately $306,507,000. Pacer Advisors Inc. lifted its stake in Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company's stock valued at $273,391,000 after buying an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after buying an additional 2,206,017 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Newmont by 2,003.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company's stock worth $92,119,000 after buying an additional 1,506,010 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of NEM stock opened at $93.49 on Thursday. The stock has a market capitalization of $102.70 billion, a PE ratio of 16.78, a PEG ratio of 0.99 and a beta of 0.34. The business's 50 day simple moving average is $78.22 and its 200 day simple moving average is $63.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $93.93.

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, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. As a group, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont's payout ratio is presently 17.95%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James Financial set a $96.00 price target on Newmont in a research note on Friday, October 10th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.66.

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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