Bleakley Financial Group LLC Has $3.12 Million Holdings in Newmont Corporation $NEM

Bleakley Financial Group LLC increased its holdings in Newmont Corporation (NYSE:NEM) by 181.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,483 shares of the basic materials company’s stock after buying an additional 34,497 shares during the period. Bleakley Financial Group LLC’s holdings in Newmont were worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NEM. Hemington Wealth Management increased its stake in Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the period. IVC Wealth Advisors LLC grew its holdings in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 185 shares during the period. Aaron Wealth Advisors LLC raised its stake in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. raised its stake in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $71.50 to $114.00 in a research note on Thursday. Finally, UBS Group raised their target price on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $90.39.

Insider Buying and Selling at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred 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 $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

NEM stock opened at $88.93 on Friday. The stock has a market cap of $97.69 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.59 and a beta of 0.34. 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 company has a 50 day simple moving average of $80.89 and a 200 day simple moving average of $65.15. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 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.