Flputnam Investment Management Co. Makes New $650,000 Investment in Newmont Corporation $NEM

Flputnam Investment Management Co. acquired a new stake in Newmont Corporation (NYSE:NEM) in the second quarter, Holdings Channel reports. The fund acquired 6,956 shares of the basic materials company’s stock, valued at approximately $650,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP grew its position in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new stake in Newmont during the 2nd quarter valued at $240,000. Cerity Partners LLC increased its stake in Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction 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. This represents a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 2.2%

Shares of NEM stock opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market capitalization of $126.81 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 52-week low of $67.20 and a 52-week high of $134.88. The company has a 50-day simple moving average of $99.36 and a two-hundred day simple moving average of $108.81.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the firm earned $1.43 EPS. Research analysts anticipate that Newmont Corporation will post 9 EPS for the current fiscal 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 paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. UBS Group lowered their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, Macquarie Infrastructure decreased their price objective on 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 given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.59.

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.