Hollencrest Capital Management Purchases New Shares in Newmont Corporation $NEM

Hollencrest Capital Management purchased a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 58,947 shares of the basic materials company’s stock, valued at approximately $1,232,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in shares of Newmont during the fourth quarter valued at $9,018,000. ARS Investment Partners LLC raised its position in Newmont by 3.6% during the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Newmont in the 2nd quarter worth about $36,180,000. Asset One Wealth Management LLC acquired a new stake in Newmont during the 2nd quarter worth about $2,866,000. Finally, Private Advisory Group LLC acquired a new stake in Newmont during the 2nd quarter worth about $10,430,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 3.4%

Shares of NEM stock opened at $127.84 on Friday. Newmont Corporation has a 12 month low of $72.78 and a 12 month high of $135.29. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The firm has a market cap of $134.70 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. The stock has a 50 day moving average of $104.23 and a 200-day moving average of $109.57.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the company posted $1.43 earnings per share. On average, equities analysts predict that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. 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%.

Insiders Place Their Bets

In other news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. This represents a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,091 shares of company stock worth $3,292,513 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEM shares. Barclays dropped their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. TD boosted their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Scotiabank upped their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Citigroup decreased their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Two equities 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 stock. According to data from MarketBeat, the company presently 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.