Johnson Financial Group Inc. Takes Position in Newmont Corporation $NEM

Johnson Financial Group Inc. bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,109 shares of the basic materials company’s stock, valued at approximately $2,719,000.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new position in Newmont during the 1st quarter valued at approximately $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the 1st quarter worth approximately $25,000. Clearstead Trust LLC purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC boosted 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 last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE NEM opened at $125.18 on Thursday. The business’s 50 day moving average price is $100.36 and its 200-day moving average price is $108.69. Newmont Corporation has a fifty-two week low of $67.69 and a fifty-two week high of $134.88. The company has a market cap of $131.90 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.20 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.

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. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the company earned $1.43 earnings per share. Sell-side analysts predict that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Macquarie Infrastructure lowered their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. 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, BNP Paribas Exane decreased their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $132.59.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, August 3rd. The shares were 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 directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is currently owned by insiders.

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.