55,253 Shares in Newmont Corporation $NEM Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,253 shares of the basic materials company’s stock, valued at approximately $1,155,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Newmont by 15.7% during 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 increased 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 buying an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Newmont in the 2nd quarter valued at about $240,000. Cerity Partners LLC raised 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 worth $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Newmont by 8.5% during the 2nd 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 period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 25,209 shares of company stock valued at $2,567,701. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. Scotiabank boosted their target price 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. The Goldman Sachs Group cut their price target on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. 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. BNP Paribas Exane lowered their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, BMO Capital Markets dropped their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Two 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Newmont Stock Down 1.6%

Shares of NYSE:NEM opened at $125.87 on Tuesday. The company has a market capitalization of $132.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business has a fifty day moving average price of $104.71 and a two-hundred day moving average price of $109.53. Newmont Corporation has a 1 year low of $72.78 and a 1 year high of $135.29.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the previous year, the business posted $1.43 EPS. Analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Dividend Announcement

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

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.