Newmont Corporation $NEM Shares Newly Bought by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 161,528 shares of the basic materials company’s stock, valued at approximately $18,842,000. Newmont makes up 0.9% of Ninety One SA Pty Ltd’s investment portfolio, making the stock its 14th largest holding.

A number of other large investors have also added to or reduced their stakes in NEM. State of Alaska Department of Revenue purchased a new position in Newmont in the third quarter valued at approximately $16,010,000. Turtle Creek Wealth Advisors LLC bought a new position in Newmont during the third quarter valued at $884,000. Curated Wealth Partners LLC bought a new position in Newmont during the third quarter valued at $1,319,000. Mainsail Asset Management LLC bought a new position in Newmont during the third quarter valued at $239,000. Finally, Nvwm LLC purchased a new stake in Newmont in the third quarter worth $75,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, 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 value 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 trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This represents a 8.04% 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. In the last quarter, insiders sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NEM shares. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a report on Friday, August 14th. 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. The Goldman Sachs Group dropped their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.26.

Newmont Trading Up 2.1%

Newmont stock traded up $2.29 during trading hours on Thursday, reaching $113.85. The stock had a trading volume of 2,690,675 shares, compared to its average volume of 8,554,959. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The stock has a market cap of $119.96 billion, a PE ratio of 14.39, a PEG ratio of 2.14 and a beta of 0.51. 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 company has a fifty day simple moving average of $121.75 and a 200-day simple moving average of $110.69.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the prior year, the company posted $1.43 EPS. Analysts forecast that Newmont Corporation will post 9.05 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Newmont 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.