Triumph Capital Management Takes $195,000 Position in Newmont Corporation $NEM

Key Points

• Triumph Capital Management acquired 9,322 Newmont shares worth approximately $195,000 in the second quarter. Institutional investors collectively own 68.85% of Newmont.
• Newmont reported quarterly earnings of $2.10 per share, exceeding analysts’ $2.05 estimate, while revenue of $6.12 billion fell short of the $6.35 billion consensus forecast.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $132.73, while Newmont declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% annual yield.

Triumph Capital Management acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 9,322 shares of the basic materials company's stock, valued at approximately $195,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the first quarter worth $25,000. Pinnacle Bancorp Inc. bought a new position in Newmont during the 1st quarter worth $25,000. Swiss RE Ltd. bought a new position in Newmont during the 4th quarter worth $26,000. Clearstead Trust LLC acquired a new position in Newmont during the 2nd quarter worth about $25,000. Finally, Kilter Group LLC acquired a new position in Newmont during the 2nd quarter worth about $26,000. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 2.0%

Newmont stock opened at $125.13 on Thursday. The firm has a market capitalization of $131.84 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. The firm's fifty day moving average price is $105.83 and its two-hundred day moving average price is $109.56. Newmont Corporation has a 1-year low of $73.44 and a 1-year high of $135.29. 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 (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.35 billion. During the same period last year, the business earned $1.43 EPS. On average, equities research analysts predict that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a research report on Friday, August 14th. National Bank Financial dropped their price target on shares of Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Barclays decreased their price objective on shares of Newmont from $125.00 to $124.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. Finally, Macquarie Infrastructure lowered their target price on shares of Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $132.73.

Insider Activity

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, 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 position. 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, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This trade represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,209 shares of company stock valued at $2,567,701 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Newmont Company 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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