Cookson Peirce & Co. Inc. Invests $2.31 Million in Newmont Corporation $NEM

Cookson Peirce & Co. Inc. acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel reports. The fund acquired 110,758 shares of the basic materials company’s stock, valued at approximately $2,315,000.

A number of other hedge funds also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in Newmont during the fourth quarter valued at approximately $9,018,000. ARS Investment Partners LLC raised its position in shares of Newmont by 3.6% during the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Newmont in the 2nd quarter worth $36,180,000. Asset One Wealth Management LLC bought a new position in Newmont during the second quarter valued at approximately $2,866,000. Finally, Private Advisory Group LLC purchased a new position in shares of Newmont in the second quarter valued at $10,430,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 3.4%

Shares of NYSE:NEM opened at $127.84 on Friday. The company has a market capitalization of $134.70 billion, a PE ratio of 16.14, a P/E/G ratio of 1.32 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $72.78 and a 12-month high of $135.29. The business’s fifty day simple moving average is $104.23 and its 200-day simple moving average is $109.57.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the company earned $1.43 earnings per share. As a group, equities research analysts predict that Newmont Corporation will post 9.01 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 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Analysts Set New Price Targets

A number of research firms recently commented on NEM. The Goldman Sachs Group dropped their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Bank of America dropped their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Macquarie Infrastructure reduced their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Argus set a $110.00 target price on Newmont in a research report on Monday, August 3rd. Finally, Citigroup dropped their price target on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.73.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.