11,557 Shares of Newmont Corporation $NEM Purchased by Stableford Capital II LLC

Stableford Capital II LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel reports. The fund purchased 11,557 shares of the basic materials company’s stock, valued at approximately $1,333,000.

Other hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont during the 1st quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Newmont in the third quarter valued at $28,000. Clearstead Trust LLC bought a new position in shares of Newmont in the second quarter valued at $25,000. Finally, Kilter Group LLC acquired a new position in Newmont during the second quarter worth $26,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NEM shares. Royal Bank Of Canada upped their price target on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. TD lifted their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group dropped their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Finally, UBS Group reduced their price target on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Stock Up 1.7%

NEM opened at $115.46 on Friday. The stock’s fifty day simple moving average is $120.34 and its 200 day simple moving average is $110.23. Newmont Corporation has a 1-year low of $76.05 and a 1-year high of $135.29. The stock has a market cap of $121.66 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings data 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. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, research analysts expect that Newmont Corporation will post 9.1 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Insider Buying and Selling

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This represents a 8.04% 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. In the last 90 days, insiders sold 35,973 shares of company stock valued at $3,927,169. Company insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.