Plato Investment Management Ltd Purchases Shares of 25,586 Newmont Corporation $NEM

Plato Investment Management Ltd purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,586 shares of the basic materials company’s stock, valued at approximately $2,376,000.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter valued at approximately $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont in the first quarter worth approximately $25,000. Clearstead Trust LLC purchased a new position in shares of Newmont during the 2nd quarter worth $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter worth $26,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NEM. The Goldman Sachs Group reduced their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Royal Bank Of Canada cut their price target on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. TD upped their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This represents a 6.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% 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. In the last 90 days, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is owned by company insiders.

Newmont Stock Up 2.2%

NEM opened at $120.35 on Tuesday. The stock has a market cap of $126.81 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. 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 firm’s fifty day moving average is $99.36 and its 200 day moving average is $108.81. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.35 billion. During the same quarter in the prior year, the business posted $1.43 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

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.