Roberts Glore & Co. Inc. IL Makes New Investment in Newmont Corporation $NEM

Roberts Glore & Co. Inc. IL acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,309 shares of the basic materials company’s stock, valued at approximately $496,000.

Other hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in shares of Newmont in the 1st quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new position in Newmont during the 1st quarter valued at about $25,000. Clearstead Trust LLC bought a new stake in Newmont during the second quarter worth about $25,000. Kilter Group LLC purchased a new stake in Newmont in the second quarter worth about $26,000. Finally, Swiss RE Ltd. purchased a new stake in Newmont in the fourth quarter worth about $26,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $135.23 on Wednesday. Newmont Corporation has a twelve month low of $70.91 and a twelve month high of $135.29. The company has a market capitalization of $142.49 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The firm has a 50 day moving average of $102.65 and a 200 day moving average of $109.16. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (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 analysts’ expectations of $6.35 billion. During the same period in the prior year, the firm posted $1.43 EPS. As a group, equities research analysts anticipate that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders 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 is presently 13.13%.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 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. Insiders have sold 32,091 shares of company stock valued at $3,292,513 over the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEM. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Citigroup cut their price target on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. TD raised their price objective on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price objective on shares of Newmont in a research note on Monday. Finally, Bank of America dropped their target price on Newmont from $157.00 to $132.00 and set a “buy” 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 issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.73.

About Newmont

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.