Semanteon Capital Management LP Makes New Investment in Newmont Corporation $NEM

Semanteon Capital Management LP acquired a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,980 shares of the basic materials company’s stock, valued at approximately $407,000.

Other institutional investors also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its holdings in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares in the last quarter. IVC Wealth Advisors LLC increased its holdings in shares of Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after acquiring an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. increased its stake in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several research analyst reports. National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Bank of America upped their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada upped their price target on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $88.99.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $87.74 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $95.75 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The business has a 50 day simple moving average of $84.58 and a 200-day simple moving average of $68.92. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 15.53%.

Newmont 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.