James Investment Research Inc. Makes New Investment in Newmont Corporation $NEM

James Investment Research Inc. acquired a new position in Newmont Corporation (NYSE:NEM) in the second quarter, Holdings Channel reports. The institutional investor acquired 4,144 shares of the basic materials company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Cloud Capital Management LLC purchased a new position in shares of Newmont in the 1st quarter worth $26,000. Colonial Trust Advisors grew its stake 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 buying an additional 429 shares in the last quarter. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after buying an additional 347 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s 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 completion of the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,249 shares of company stock worth $1,132,065 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. BNP Paribas Exane lifted their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $86.92.

Newmont Trading Up 0.8%

Shares of NEM opened at $79.26 on Wednesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a 50-day moving average of $81.59 and a 200 day moving average of $66.08. The firm has a market capitalization of $86.49 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

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.