S Bank Fund Management Ltd Invests $457,000 in Newmont Corporation (NYSE:NEM)

S Bank Fund Management Ltd purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,468 shares of the basic materials company’s stock, valued at approximately $457,000.

Several other institutional investors have also modified their holdings of NEM. Bank of New York Mellon Corp increased its position in shares of Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp increased its position in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Invesco Ltd. increased its position in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after purchasing an additional 228,116 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Newmont by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company’s stock worth $350,166,000 after purchasing an additional 1,331,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Newmont by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company’s stock worth $281,797,000 after purchasing an additional 630,031 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. Stifel Nicolaus began coverage on Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Royal Bank Of Canada raised their price objective on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. National Bankshares raised Newmont from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 25th. Finally, CIBC set a $74.00 target price on Newmont and gave the company a “neutral” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.58.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock worth $1,373,251 over the last 90 days. 0.05% of the stock is owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $68.61 on Thursday. Newmont Corporation has a one year low of $36.86 and a one year high of $70.29. The company has a market cap of $75.36 billion, a PE ratio of 12.32, a P/E/G ratio of 0.81 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The business has a 50-day simple moving average of $60.38 and a 200-day simple moving average of $52.73.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Newmont’s payout ratio is presently 17.95%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.