Susquehanna Fundamental Investments LLC Acquires Shares of 34,117 Newmont Corporation $NEM

Susquehanna Fundamental Investments LLC bought a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,117 shares of the basic materials company’s stock, valued at approximately $713,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new stake in Newmont during the second quarter valued at $240,000. Cerity Partners LLC grew its position in Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after buying an additional 3,856 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed 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 business’s stock in a transaction dated 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 sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $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 ninety days, insiders sold 25,209 shares of company stock worth $2,567,701. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 2.0%

Shares of Newmont stock opened at $125.13 on Thursday. 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 stock’s 50 day simple moving average is $105.83 and its 200-day simple moving average is $109.56. The stock has a market cap of $131.84 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.73 and a beta of 0.52. Newmont Corporation has a 1-year low of $73.44 and a 1-year high of $135.29.

Newmont (NYSE:NEM) last issued its earnings results 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. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TD upped their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Citigroup cut their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce set a $170.00 target price on Newmont in a research note on Friday, August 14th. National Bank Financial dropped their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Barclays cut their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 28th. Two 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, the stock presently 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.