Nemes Rush Group LLC Acquires New Position in Newmont Corporation $NEM

Nemes Rush Group LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,511 shares of the basic materials company’s stock, valued at approximately $866,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. BlackRock Inc. acquired a new position in shares of Newmont during the 2nd quarter valued at about $11,289,753,000. State Street Corp grew its holdings in Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the period. Bank of New York Mellon Corp grew its holdings in Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after purchasing an additional 615,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock valued at $1,012,792,000 after purchasing an additional 184,586 shares during the period. Finally, Amundi increased its position in Newmont by 4.4% during the first quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after purchasing an additional 372,415 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president owned 31,315 shares of the company’s stock, valued at $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $419,411.28. Following the completion of the sale, the chief executive officer directly owned 101,691 shares in the company, valued at $10,986,695.64. This represents a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,646 shares of company stock worth $2,380,140 over the last 90 days. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of NEM stock opened at $125.13 on Tuesday. The stock has a market capitalization of $130.03 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.15 and a beta of 0.56. Newmont Corporation has a one year low of $81.34 and a one year high of $135.29. The company’s 50-day simple moving average is $118.81 and its 200-day simple moving average is $112.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 25th. Newmont’s payout ratio is 12.09%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank cut their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Jefferies Financial Group boosted their price target on Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. National Bank Financial lowered their price target on Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 20th. Barclays dropped their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, The Goldman Sachs Group cut their price objective on Newmont from $127.50 to $119.00 in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Profile