Foster & Motley Inc. Takes Position in Newmont Corporation $NEM

Foster & Motley Inc. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,760 shares of the basic materials company’s stock, valued at approximately $445,000.

A number of other institutional investors have also added to or reduced their stakes in NEM. Leonteq Securities AG bought a new position in Newmont in the fourth quarter valued at about $9,018,000. ARS Investment Partners LLC grew its holdings in shares of Newmont by 3.6% during the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after purchasing an additional 23,900 shares during the last quarter. Private Advisory Group LLC acquired a new position in shares of Newmont in the second quarter valued at approximately $10,430,000. Thrivent Financial for Lutherans increased its stake in shares of Newmont by 37.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock valued at $21,440,000 after buying an additional 58,690 shares during the period. Finally, iA Global Asset Management Inc. raised its holdings in Newmont by 156.9% in the 4th quarter. iA Global Asset Management Inc. now owns 221,790 shares of the basic materials company’s stock valued at $22,146,000 after buying an additional 135,446 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NEM. Raymond James Financial cut their target price on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Argus set a $110.00 price target on shares of Newmont in a research report on Monday, August 3rd. Bank of America dropped their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Macquarie Infrastructure cut their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Finally, Barclays reduced their price objective on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Two investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Transactions at Newmont

In other news, 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 value of $280,350.00. Following the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was 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. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Up 2.2%

NYSE:NEM opened at $127.86 on Friday. The firm’s fifty day moving average is $100.96 and its 200-day moving average is $108.80. 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 Corporation has a 52 week low of $68.90 and a 52 week high of $134.88. The firm has a market cap of $134.72 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.29 and a beta of 0.47.

Newmont (NYSE:NEM) last posted 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 company 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 period in the prior year, the company posted $1.43 earnings per share. Equities analysts expect that Newmont Corporation will post 8.99 earnings per share 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 issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

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.