Certuity LLC Acquires New Shares in Newmont Corporation $NEM

Certuity LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,106 shares of the basic materials company’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Newmont in the second quarter worth approximately $919,170,000. Invesco Ltd. raised its position in Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after acquiring an additional 4,839,447 shares in the last quarter. Northern Trust Corp lifted its stake in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the last quarter. Amundi grew its position in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

NYSE NEM opened at $94.15 on Wednesday. The stock has a 50-day simple moving average of $87.20 and a 200 day simple moving average of $73.31. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The stock has a market capitalization of $102.74 billion, a PE ratio of 14.62, a P/E/G ratio of 0.62 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the business posted $0.81 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. Raymond James Financial set a $99.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. Bank of America raised their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. National Bankshares increased their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $96.37.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,240 shares of company stock valued at $943,985. Insiders own 0.05% of the company’s stock.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.