Triumph Capital Management Makes New Investment in Newmont Corporation $NEM

Triumph Capital Management purchased a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,945 shares of the basic materials company’s stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. BlackRock Inc. bought a new stake in shares of Newmont in the second quarter valued at about $11,289,753,000. State Street Corp increased its stake in Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after acquiring an additional 1,565,716 shares during the period. Van ECK Associates Corp acquired a new position in Newmont in the 2nd quarter valued at approximately $671,197,000. Bank of New York Mellon Corp acquired a new position in Newmont in the 2nd quarter valued at approximately $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $241,820,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Citigroup lowered their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Barclays cut their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. The Goldman Sachs Group decreased their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Argus set a $110.00 price target on shares of Newmont in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Price Performance

Shares of Newmont stock traded down $4.22 during midday trading on Wednesday, hitting $111.37. 6,642,614 shares of the company were exchanged, compared to its average volume of 8,585,471. 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 has a market cap of $117.35 billion, a P/E ratio of 14.06, a PEG ratio of 2.17 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The firm has a 50 day simple moving average of $121.75 and a 200-day simple moving average of $110.69.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. Research analysts forecast that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont 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 directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.