VectorGlobal IAG Inc. Invests $9.31 Million in Newmont Corporation $NEM

VectorGlobal IAG Inc. acquired a new position in Newmont Corporation (NYSE:NEM) during the first quarter, Holdings Channel.com reports. The firm acquired 86,001 shares of the basic materials company’s stock, valued at approximately $9,310,000. Newmont makes up approximately 2.4% of VectorGlobal IAG Inc.’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont in the first quarter worth about $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the 1st quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the 4th quarter valued at approximately $30,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 0.0%

Shares of NEM stock opened at $93.70 on Monday. Newmont Corporation has a 1 year low of $61.76 and a 1 year high of $134.88. The firm has a market capitalization of $98.73 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.05 and a beta of 0.47. The stock has a fifty day moving average of $98.48 and a two-hundred day moving average of $109.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last released its 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 net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the company earned $1.43 EPS. As a group, research analysts expect that Newmont Corporation will post 8.99 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% 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. Over the last ninety days, insiders have sold 9,882 shares of company stock valued at $1,001,952. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. UBS Group dropped their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, Argus raised their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $132.83.

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.