Live Oak Private Wealth LLC Buys New Shares in Newmont Corporation $NEM

Live Oak Private Wealth LLC bought a new position in Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 117,910 shares of the basic materials company’s stock, valued at approximately $2,464,000.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of Newmont during the first quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont in the first quarter worth about $25,000. Clearstead Trust LLC bought a new stake in shares of Newmont in the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new stake in shares of Newmont in the 2nd quarter valued at about $26,000. Finally, Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter valued at about $26,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the transaction, the executive vice president owned 40,315 shares of the company’s stock, valued at $3,767,436.75. This trade represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,209 shares of company stock valued at $2,567,701 over the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Stock Down 2.8%

Shares of NYSE:NEM opened at $122.56 on Wednesday. Newmont Corporation has a 1 year low of $73.44 and a 1 year high of $135.29. The company has a market cap of $129.14 billion, a PE ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The stock’s 50-day moving average is $105.20 and its 200 day moving average is $109.51.

Newmont (NYSE:NEM) last released 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the business posted $1.43 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors 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 dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Analyst Ratings Changes

Several equities analysts recently issued reports on NEM shares. Scotiabank raised their price target on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group dropped their price objective on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. UBS Group decreased their target price 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. Finally, Macquarie Infrastructure lowered their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $132.73.

Newmont 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.