143,171 Shares in Newmont Corporation $NEM Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 143,171 shares of the basic materials company’s stock, valued at approximately $13,372,000.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. K.J. Harrison & Partners Inc acquired a new position in shares of Newmont during the second quarter worth $4,744,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Newmont during the 2nd quarter valued at $413,000. Auxano Advisors LLC acquired a new stake in shares of Newmont in the 2nd quarter worth $3,864,000. Focused Alpha LLC purchased a new position in Newmont during the 2nd quarter worth $215,000. Finally, BlackRock Inc. purchased a new position in Newmont during the 2nd quarter worth $11,289,753,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. BMO Capital Markets decreased their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Argus set a $110.00 price target on Newmont in a research note on Monday, August 3rd. Barclays cut their price objective on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Royal Bank Of Canada decreased their price objective on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup lowered their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.59.

Newmont Stock Performance

Shares of NEM opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a 50-day moving average of $99.36 and a two-hundred day moving average of $108.81. The stock has a market cap of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. 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 analysts’ consensus estimates 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 analyst estimates of $6.35 billion. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, research analysts predict that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is owned by insiders.

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.