Strengthening Families & Communities LLC Buys Shares of 41,735 Newmont Corporation $NEM

Key Points

• Strengthening Families & Communities LLC acquired 41,735 Newmont shares valued at approximately $872,000 in the second quarter. Institutional investors now own 68.85% of Newmont’s outstanding stock.
• Newmont reported quarterly EPS of $2.10, exceeding analysts’ $2.05 consensus, while revenue of $6.12 billion fell short of the $6.35 billion estimate. The company declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% annualized yield.
• Insiders sold 25,209 shares worth approximately $2.57 million over the past 90 days. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $132.73 versus the stock’s reported $125.13 price.

Strengthening Families & Communities LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 41,735 shares of the basic materials company's stock, valued at approximately $872,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Continuum Advisory LLC bought a new position in Newmont in the second quarter worth approximately $69,000. Nykredit A S bought a new stake in Newmont during the 2nd quarter valued at $9,399,000. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Newmont in the 2nd quarter valued at $2,355,000. Live Oak Private Wealth LLC purchased a new position in shares of Newmont in the 2nd quarter valued at $2,464,000. Finally, XML Financial LLC bought a new position in shares of Newmont in the 2nd quarter worth $468,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 25,209 shares of company stock worth $2,567,701. Company insiders own 0.06% of the company's stock.

Newmont Stock Up 2.0%

NYSE:NEM opened at $125.13 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $73.44 and a twelve month high of $135.29. The company has a market cap of $131.84 billion, a PE ratio of 15.80, a P/E/G ratio of 1.73 and a beta of 0.52. The company's 50 day moving average is $105.83 and its two-hundred day moving average is $109.56.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. Analysts anticipate that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont's dividend payout ratio (DPR) is currently 13.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on NEM shares. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Bank of America cut their price objective on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. National Bank Financial reduced their price objective on shares of Newmont from $140.00 to $125.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Macquarie Infrastructure reduced their price target on Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.73.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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