4,421 Shares in Newmont Corporation $NEM Purchased by NINE MASTS CAPITAL Ltd

NINE MASTS CAPITAL Ltd purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel reports. The firm purchased 4,421 shares of the basic materials company’s stock, valued at approximately $92,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Parkside Financial Bank & Trust lifted its position in shares of Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the last quarter. Coston McIsaac & Partners increased its holdings in shares of Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Newmont by 6.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. raised its stake in Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Finally, Townsquare Capital LLC lifted its holdings in Newmont by 4.2% during the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NEM shares. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Newmont in a research report on Monday, August 24th. Royal Bank Of Canada dropped their price objective on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. BMO Capital Markets reduced their target price 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. Argus set a $110.00 target price on shares of Newmont in a report on Monday, August 3rd. Finally, UBS Group decreased their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $132.73.

Insider Activity

In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 25,209 shares of company stock worth $2,567,701. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.1%

NEM stock opened at $127.84 on Monday. Newmont Corporation has a 52 week low of $72.78 and a 52 week high of $135.29. The company has a market capitalization of $134.70 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. The company’s 50-day simple moving average is $104.23 and its 200 day simple moving average is $109.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the company earned $1.43 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is currently 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.