Perigon Wealth Management LLC Acquires Shares of 38,198 Newmont Corporation $NEM

Perigon Wealth Management LLC bought a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,198 shares of the basic materials company’s stock, valued at approximately $3,568,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP increased its position in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Newmont in the 2nd quarter worth approximately $240,000. Cerity Partners LLC lifted its position in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Barclays decreased their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. National Bank Financial dropped their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Scotiabank lifted their price target on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Citigroup decreased their price objective on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.59.

Newmont Trading Up 2.2%

Shares of NYSE:NEM opened at $120.35 on Tuesday. The stock has a market capitalization of $126.81 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock’s 50-day simple moving average is $99.36 and its two-hundred day simple moving average is $108.81. Newmont Corporation has a 52-week low of $67.20 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the business earned $1.43 EPS. Analysts expect that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Insider Transactions at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock worth $3,292,513 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.