NINE MASTS CAPITAL Ltd Invests $413,000 in Newmont Corporation $NEM

NINE MASTS CAPITAL Ltd bought a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 4,421 shares of the basic materials company’s stock, valued at approximately $413,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the first quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new stake in Newmont during the 1st quarter worth approximately $25,000. Clearstead Trust LLC bought a new stake in Newmont during the 2nd quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the 4th quarter valued at $26,000. Finally, Cornerstone Planning Group LLC raised its position in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company’s stock in a transaction on 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 completion of the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 in the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NEM. Raymond James Financial reduced their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a research note on Friday. Citigroup reduced their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets lowered their price target on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $132.59.

Newmont Stock Up 2.2%

Shares of NYSE:NEM opened at $120.35 on Tuesday. 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 stock has a market cap of $126.81 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a 50 day moving average of $99.36 and a 200-day moving average of $108.81. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share 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 business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the business posted $1.43 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 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.