Corient Private Wealth LP Invests $16.43 Million in Newmont Corporation $NEM

Corient Private Wealth LP acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 175,862 shares of the basic materials company’s stock, valued at approximately $16,425,000.

A number of other institutional investors also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the 1st quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter valued at about $26,000. Clearstead Trust LLC bought a new position in shares of Newmont during the 2nd quarter valued at approximately $25,000. Finally, Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

NEM stock opened at $127.84 on Friday. 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 company’s fifty day moving average price is $104.23 and its 200-day moving average price is $109.57. Newmont Corporation has a one year low of $72.78 and a one year high of $135.29. The company has a market capitalization of $134.70 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the company posted $1.43 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at $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 quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on NEM shares. National Bank Financial lowered 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. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Macquarie Infrastructure dropped their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Scotiabank increased their price target on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Company 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.