Roberts Glore & Co. Inc. IL Makes New $496,000 Investment in Newmont Corporation $NEM

Roberts Glore & Co. Inc. IL acquired a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,309 shares of the basic materials company’s stock, valued at approximately $496,000.

Other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Newmont during the 1st quarter valued at $25,000. Clearstead Trust LLC purchased a new position in Newmont in the 2nd quarter worth $25,000. Kilter Group LLC purchased a new position in Newmont in the 2nd quarter worth $26,000. Finally, Swiss RE Ltd. bought a new stake in Newmont in the fourth quarter worth $26,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 2.6%

NYSE NEM opened at $135.23 on Wednesday. Newmont Corporation has a 1 year low of $70.91 and a 1 year high of $135.29. The stock has a market capitalization of $142.49 billion, a PE ratio of 17.07, a PEG ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business’s 50-day moving average is $102.65 and its 200 day moving average is $109.16.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during 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 posted $1.43 EPS. Sell-side analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont’s payout ratio is 13.13%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent research reports. Scotiabank raised their price objective on Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group lowered their target price on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Argus set a $110.00 target price on Newmont in a report on Monday, August 3rd. The Goldman Sachs Group reduced their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.73.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. 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 ninety days, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is currently owned by company insiders.

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.