Norden Group LLC Grows Stock Holdings in Newmont Corporation $NEM

Norden Group LLC grew its holdings in Newmont Corporation (NYSE:NEM) by 45.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,377 shares of the basic materials company’s stock after acquiring an additional 3,262 shares during the period. Norden Group LLC’s holdings in Newmont were worth $605,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter valued at approximately $26,000. Colonial Trust Advisors boosted its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Private Trust Co. NA increased its position in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC purchased a new stake in Newmont during the 1st quarter valued at $31,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In related news, 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 completion of the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock worth $1,253,559 over the last three months. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. UBS Group lifted their price objective on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Scotiabank upped their price target on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. BNP Paribas Exane increased their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Royal Bank Of Canada upgraded Newmont from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Finally, Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.38.

Newmont Stock Performance

Newmont stock opened at $83.60 on Friday. The company has a 50 day moving average price of $71.48 and a 200-day moving average price of $59.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $86.62. The company has a market capitalization of $91.83 billion, a PE ratio of 15.01, a P/E/G ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

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.