Newmont Corporation $NEM Shares Bought by Rahlfs Capital LLC

Rahlfs Capital LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 59.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,110 shares of the basic materials company’s stock after purchasing an additional 9,735 shares during the period. Newmont comprises approximately 1.3% of Rahlfs Capital LLC’s holdings, making the stock its 25th largest holding. Rahlfs Capital LLC’s holdings in Newmont were worth $1,261,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. First Trust Advisors LP raised its position in shares of Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock valued at $3,575,000 after acquiring an additional 8,678 shares in the last quarter. Stifel Financial Corp raised its position in shares of Newmont by 27.4% during the 4th quarter. Stifel Financial Corp now owns 696,719 shares of the basic materials company’s stock valued at $25,932,000 after acquiring an additional 149,968 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Newmont by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,886,961 shares of the basic materials company’s stock valued at $219,113,000 after acquiring an additional 635,554 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Newmont during the 4th quarter valued at approximately $3,164,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,246 shares of company stock valued at $1,373,251. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research reports. Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Raymond James Financial upped their price target on Newmont from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Argus set a $63.00 price target on Newmont in a research report on Friday, April 25th. Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Finally, National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Four investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.58.

Newmont Price Performance

Shares of NYSE NEM opened at $70.6610 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $71.10. 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 business’s fifty day moving average price is $62.46 and its two-hundred day moving average price is $54.02. The firm has a market capitalization of $77.62 billion, a PE ratio of 12.69, a P/E/G ratio of 0.84 and a beta of 0.30.

Newmont (NYSE:NEM) 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company 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 business posted $0.72 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Newmont’s dividend payout ratio is presently 17.95%.

About Newmont

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.