Vident Advisory LLC Acquires 3,387 Shares of Newmont Corporation $NEM

Vident Advisory LLC increased its holdings in shares of Newmont Corporation (NYSE:NEM) by 7.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,907 shares of the basic materials company’s stock after purchasing an additional 3,387 shares during the quarter. Vident Advisory LLC’s holdings in Newmont were worth $2,313,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. SOA Wealth Advisors LLC. increased its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the 1st quarter worth approximately $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA increased its stake in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC bought a new stake in Newmont during the 1st quarter worth approximately $31,000. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont 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 completion of the sale, the director owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,169 shares of company stock valued at $1,098,636. 0.05% of the stock is currently owned by corporate insiders.

Newmont Trading Up 2.1%

Shares of Newmont stock opened at $74.48 on Tuesday. The business has a fifty day simple moving average of $64.21 and a two-hundred day simple moving average of $55.27. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $74.52. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.88 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Macquarie set a $72.00 price target on shares of Newmont and gave the stock a “neutral” rating in a research note on Monday. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Scotiabank raised their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a “buy” rating and a $73.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $65.15.

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.