VectorGlobal IAG Inc. Buys Shares of 86,001 Newmont Corporation $NEM

VectorGlobal IAG Inc. purchased a new position in Newmont Corporation (NYSE:NEM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 86,001 shares of the basic materials company’s stock, valued at approximately $9,310,000. Newmont comprises about 2.4% of VectorGlobal IAG Inc.’s portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Newmont by 40.7% during the first 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 during the period. Sivia Capital Partners LLC acquired a new stake in Newmont during the second quarter worth approximately $240,000. Cerity Partners LLC grew its stake in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after acquiring an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 3,856 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares in the company, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, 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. Insiders have sold 9,882 shares of company stock valued at $1,001,952 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NEM. National Bank Financial cut their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Canaccord Genuity Group lowered their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. The Goldman Sachs Group dropped their target price on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Citigroup reduced their target price on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Raymond James Financial decreased their price target on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. 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.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.83.

Newmont Stock Down 0.0%

Shares of NEM opened at $93.70 on Monday. Newmont Corporation has a fifty-two week low of $61.76 and a fifty-two week high of $134.88. The company’s fifty day moving average is $98.48 and its two-hundred day moving average is $109.43. The firm has a market cap of $98.73 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.05 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 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. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.43 EPS. Analysts forecast that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is currently 13.13%.

About Newmont

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.