Cetera Trust Company N.A Buys Shares of 19,083 Newmont Corporation $NEM

Cetera Trust Company N.A bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,083 shares of the basic materials company’s stock, valued at approximately $1,782,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Visionary Wealth Advisors acquired a new position in shares of Newmont in the 2nd quarter valued at $271,000. Dearborn Partners LLC acquired a new stake in Newmont during the 2nd quarter worth $379,000. Asset One Wealth Management LLC acquired a new stake in Newmont during the 2nd quarter worth $2,866,000. Cibc World Market Inc. bought a new position in Newmont during the second quarter worth about $38,405,000. Finally, Blue Whale Capital LLP acquired a new position in Newmont in the second quarter valued at about $73,625,000. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 in the last quarter. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $131.84 on Tuesday. The firm has a market cap of $138.92 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The stock’s 50-day moving average is $102.12 and its 200-day moving average is $109.03. Newmont Corporation has a one year low of $70.88 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last posted 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 company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the firm earned $1.43 earnings per share. Equities analysts predict that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio is 13.13%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. National Bank Financial lowered their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Citigroup dropped their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.73.

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.