111 Capital Buys Shares of 32,295 Newmont Corporation $NEM

111 Capital bought a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,295 shares of the basic materials company’s stock, valued at approximately $1,882,000.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Newmont by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after buying an additional 1,306,783 shares in the last quarter. Northern Trust Corp grew its holdings in Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after buying an additional 191,940 shares in the last quarter. Amundi grew its holdings in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after buying an additional 343,535 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after purchasing an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 in the last quarter. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEM shares. National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. UBS Group increased their price target on Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. BNP Paribas Exane increased their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Finally, Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Newmont Stock Performance

Shares of Newmont stock opened at $86.86 on Friday. The business has a 50-day moving average of $74.37 and a 200 day moving average of $61.08. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $87.93. The stock has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.