Navellier & Associates Inc. Invests $134,000 in Newmont Corporation $NEM

Navellier & Associates Inc. acquired a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,424 shares of the basic materials company’s stock, valued at approximately $134,000.

Several other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after acquiring an additional 96 shares during the last quarter. Coston McIsaac & Partners raised its position in shares of Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Newmont by 6.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. boosted its position in shares of Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after purchasing an additional 100 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of Newmont by 4.2% during the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 102 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.1%

NEM stock opened at $127.84 on Monday. The stock’s 50 day simple moving average is $104.23 and its 200 day simple moving average is $109.49. Newmont Corporation has a fifty-two week low of $72.78 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market cap of $134.70 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the firm posted $1.43 earnings per share. On average, research analysts expect that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares in the company, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 25,209 shares of company stock worth $2,567,701. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NEM shares. Canaccord Genuity Group lowered their target price on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. UBS Group reduced their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Macquarie Infrastructure lowered their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Scotiabank boosted their target price on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, TD increased their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two equities 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 MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $132.73.

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.