Newmont Corporation $NEM Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in shares of Newmont Corporation (NYSE:NEM) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,172 shares of the basic materials company’s stock after buying an additional 192 shares during the quarter. Harbour Investments Inc.’s holdings in Newmont were worth $418,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC grew its holdings in Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares during the last quarter. Generate Investment Management Ltd grew its holdings in Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after buying an additional 77,865 shares during the last quarter. Bessemer Group Inc. grew its holdings in Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after buying an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Newmont during the 1st quarter valued at $423,000. Finally, Cypress Capital Group grew its holdings in Newmont by 6.5% during the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company’s stock valued at $2,828,000 after buying an additional 2,959 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $94.92 on Tuesday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The stock has a market capitalization of $104.27 billion, a P/E ratio of 17.04, a PEG ratio of 0.63 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $79.76 and its 200 day moving average price is $64.54.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada upgraded Newmont from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Bank of America raised their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Finally, UBS Group raised their price objective on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.59.

Newmont Company Profile

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.