119,302 Shares in Newmont Corporation $NEM Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 119,302 shares of the basic materials company’s stock, valued at approximately $11,143,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD acquired a new position in shares of Newmont in the 2nd quarter valued at $220,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Newmont during the 2nd quarter worth about $56,740,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Newmont in the 2nd quarter valued at about $3,932,000. Te Ahumairangi Investment Management Ltd acquired a new position in Newmont in the second quarter valued at about $6,286,000. Finally, Pinnacle Holdings LLC acquired a new position in Newmont in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 in the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $131.84 on Tuesday. The firm has a 50 day moving average of $102.12 and a two-hundred day moving average of $109.03. The stock has a market capitalization of $138.92 billion, a PE ratio of 16.65, a P/E/G ratio of 1.36 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 Corporation has a 52 week low of $70.88 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the company earned $1.43 earnings per share. On average, research analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued 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 0.8%. Newmont’s dividend payout ratio is 13.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Macquarie Infrastructure dropped their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. BMO Capital Markets decreased their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. Citigroup lowered their price target on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group cut their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.73.

Newmont 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.