Navellier & Associates Inc. Purchases New Holdings in Newmont Corporation $NEM

Navellier & Associates Inc. bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, HoldingsChannel reports. The fund bought 6,424 shares of the basic materials company’s stock, valued at approximately $134,000.

A number of other hedge funds also recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in shares of Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the period. Coston McIsaac & Partners boosted its holdings in shares of Newmont by 28.6% in the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of Newmont by 6.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. grew its position in shares of Newmont by 0.6% in the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after purchasing an additional 100 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of Newmont by 4.2% during the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 102 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 in the company, valued at $3,767,436.75. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 that occurred on Wednesday, August 5th. The stock was 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 owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NEM shares. Raymond James Financial reissued an “outperform” rating and set a $140.00 price objective on shares of Newmont in a report on Monday, August 24th. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Macquarie Infrastructure decreased their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. UBS Group cut their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada decreased their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.73.

Newmont Trading Down 0.1%

Shares of NEM opened at $127.84 on Monday. Newmont Corporation has a 1-year low of $72.78 and a 1-year high of $135.29. The company has a market capitalization of $134.70 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.32 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm’s 50 day simple moving average is $104.23 and its 200 day simple moving average is $109.49.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during 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 previous year, the company earned $1.43 EPS. Sell-side analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

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.