Signaturefd LLC Acquires 870 Shares of Newmont Corporation $NEM

Signaturefd LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,026 shares of the basic materials company’s stock after purchasing an additional 870 shares during the period. Signaturefd LLC’s holdings in Newmont were worth $992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Newmont in the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. raised its position in shares of Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after acquiring an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after acquiring an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Newmont by 1,074.8% in 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 acquiring an additional 2,206,017 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Newmont by 21,069.5% in the 1st quarter. Panagora Asset Management Inc. now owns 1,357,812 shares of the basic materials company’s stock worth $65,555,000 after acquiring an additional 1,351,398 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several research reports. Stifel Nicolaus initiated coverage on Newmont in a research report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 target price for the company. The Goldman Sachs Group increased their target price on Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. CIBC increased their target price on Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.38.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the firm’s 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 transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 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 value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,246 shares of company stock worth $1,253,559 in the last ninety days. Insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $85.17 on Monday. The business’s fifty day simple moving average is $72.02 and its two-hundred day simple moving average is $59.93. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $86.62. The company has a market cap of $93.55 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.99 and a beta of 0.33.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, September 4th. 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.