F&V Capital Management LLC Invests $1.59 Million in Newmont Corporation $NEM

F&V Capital Management LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 75,900 shares of the basic materials company’s stock, valued at approximately $1,586,000.

A number of other hedge funds also recently bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Newmont during the first quarter valued at approximately $25,000. Clearstead Trust LLC bought a new position in shares of Newmont during the second quarter valued at approximately $25,000. Kilter Group LLC purchased a new stake in Newmont in the second quarter worth $26,000. Finally, Swiss RE Ltd. purchased a new stake in Newmont in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $127.84 on Monday. The stock has a market cap of $134.70 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.32 and a beta of 0.47. The business’s fifty day moving average is $104.23 and its 200 day moving average is $109.49. Newmont Corporation has a twelve month low of $72.78 and a twelve month high of $135.29. 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 posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the company earned $1.43 earnings per share. Research analysts expect that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NEM shares. TD boosted their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays dropped their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Canaccord Genuity Group reduced their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,209 shares of company stock worth $2,567,701 in the last three months. 0.06% of the stock is owned by corporate insiders.

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.