Harvest Portfolios Group Inc. Has $560,000 Holdings in Newmont Corporation $NEM

Harvest Portfolios Group Inc. raised its position in shares of Newmont Corporation (NYSE:NEM) by 6.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,605 shares of the basic materials company’s stock after purchasing an additional 731 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Newmont were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the period. Comerica Bank grew its position in shares of Newmont by 8.0% during the 1st quarter. Comerica Bank now owns 158,767 shares of the basic materials company’s stock worth $7,665,000 after buying an additional 11,823 shares during the period. Synovus Financial Corp grew its position in shares of Newmont by 3.4% during the 1st quarter. Synovus Financial Corp now owns 16,141 shares of the basic materials company’s stock worth $779,000 after buying an additional 533 shares during the period. Hartree Partners LP acquired a new stake in shares of Newmont during the 1st quarter worth approximately $1,062,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Newmont by 25.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the basic materials company’s stock worth $211,000 after buying an additional 894 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the transaction, the director directly owned 41,026 shares in the company, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,246 shares of company stock worth $1,373,251. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on NEM shares. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Finally, Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.58.

Newmont Price Performance

Shares of NEM opened at $72.49 on Wednesday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $72.79. The business’s fifty day moving average is $63.00 and its 200 day moving average is $54.46. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The stock has a market cap of $79.63 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.84 and a beta of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.72 EPS. The business’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 1.4%. Newmont’s dividend payout ratio (DPR) is 17.95%.

About Newmont

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.