Nelson Capital Management LLC Acquires Shares of 3,949 Newmont Corporation $NEM

Nelson Capital Management LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, Holdings Channel reports. The fund purchased 3,949 shares of the basic materials company’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $773,159,000 after purchasing an additional 1,306,783 shares in the last quarter. Northern Trust Corp grew its stake in shares of Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi grew its position in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. grew its position in Newmont by 2.2% in 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 position in Newmont by 15.9% in 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. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was 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 of the company’s stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock valued at $1,132,065. Company insiders own 0.05% of the company’s stock.

Newmont Trading Down 1.7%

Shares of NYSE:NEM opened at $87.03 on Wednesday. The company has a market cap of $95.59 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $89.37. The stock has a 50 day moving average of $75.33 and a 200 day moving average of $61.73. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is currently 17.95%.

Analyst Upgrades and Downgrades

Several analysts recently commented on NEM shares. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. CIBC boosted their price target on Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. The Goldman Sachs Group boosted their price target on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

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.