Heartland Bank & Trust Co Takes $247,000 Position in Newmont Corporation $NEM

Heartland Bank & Trust Co acquired a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,247 shares of the basic materials company’s stock, valued at approximately $247,000.

Other hedge funds also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC lifted its stake in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the period. Generate Investment Management Ltd lifted its stake in Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after acquiring an additional 77,865 shares during the period. Bessemer Group Inc. lifted its stake in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after acquiring an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Newmont in the first quarter worth about $423,000. Finally, Spire Wealth Management lifted its stake in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 1,309 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value 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. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

NEM opened at $90.51 on Wednesday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $91.24. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company has a market cap of $99.42 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. The firm’s 50-day moving average price is $77.71 and its 200-day moving average price is $63.13.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 17.95%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a research note on Sunday. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. TD Securities increased their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $83.18.

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.