Nan Shan Life Insurance Co. Ltd. Takes $9.09 Million Position in Newmont Corporation $NEM

Nan Shan Life Insurance Co. Ltd. purchased a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 434,914 shares of the basic materials company’s stock, valued at approximately $9,090,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Cedar Mountain Advisors LLC acquired a new position in Newmont during the 1st quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont during the first quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in Newmont in the 4th quarter valued at $26,000. Clearstead Trust LLC bought a new stake in Newmont during the 2nd quarter valued at $25,000. Finally, Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NEM. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. TD boosted their price objective on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. UBS Group decreased their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. The Goldman Sachs Group dropped their target price on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, BMO Capital Markets cut their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.73.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 completion of the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This trade 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 90 days, insiders sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is owned by insiders.

Newmont Stock Down 2.8%

Shares of NYSE:NEM opened at $122.56 on Wednesday. The company has a market capitalization of $129.14 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. Newmont Corporation has a 1 year low of $73.44 and a 1 year high of $135.29. 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 has a fifty day moving average price of $105.20 and a two-hundred day moving average price of $109.51.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

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.