Bull Harbor Capital LLC Purchases Shares of 14,450 Newmont Corporation $NEM

Bull Harbor Capital LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,450 shares of the basic materials company’s stock, valued at approximately $1,564,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Cedar Mountain Advisors LLC acquired a new stake in Newmont during the first quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC lifted 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 worth $27,000 after buying an additional 206 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the 4th quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. 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 three months, insiders have sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Down 0.2%

Shares of NEM opened at $91.34 on Thursday. The company has a market capitalization of $96.24 billion, a P/E ratio of 11.53, a PEG ratio of 1.02 and a beta of 0.46. Newmont Corporation has a one year low of $61.76 and a one year high of $134.88. The business’s 50 day simple moving average is $99.02 and its 200-day simple moving average is $109.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating 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 firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the firm posted $1.43 EPS. As a group, sell-side analysts predict that Newmont Corporation will post 8.99 EPS for the current fiscal year.

Newmont Dividend Announcement

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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NEM. Raymond James Financial lowered their price target on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $168.00 price objective on shares of Newmont in a report on Tuesday. National Bank Financial reduced their target price on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Canaccord Genuity Group lowered their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.83.

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.