LaSalle St. Investment Advisors LLC Purchases Shares of 13,522 Newmont Corporation $NEM

LaSalle St. Investment Advisors LLC purchased a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,522 shares of the basic materials company’s stock, valued at approximately $1,263,000.

Other hedge funds have also recently modified their holdings of the company. Kilter Group LLC purchased a new stake in shares of Newmont during the second quarter worth about $26,000. D L Carlson Investment Group Inc. purchased a new position in Newmont during the 2nd quarter valued at about $329,000. Hara Capital LLC purchased a new position in Newmont during the 2nd quarter valued at about $2,138,000. Ninepoint Partners LP bought a new position in Newmont during the 2nd quarter valued at approximately $1,861,000. Finally, PCM Encore LLC bought a new position in Newmont during the 2nd quarter valued at approximately $429,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.2%

NEM stock opened at $127.86 on Friday. Newmont Corporation has a fifty-two week low of $68.90 and a fifty-two week high of $134.88. The company has a market capitalization of $134.72 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.47. The business’s 50 day moving average price is $100.96 and its two-hundred day moving average price is $108.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS 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 during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the business posted $1.43 EPS. As a group, analysts forecast that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. 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 payout ratio is 13.13%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BNP Paribas Exane cut their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. TD raised their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada cut their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Raymond James Financial reduced their price objective on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Transactions at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,091 shares of company stock valued at $3,292,513 in the last three months. 0.06% of the stock is currently owned by company insiders.

About Newmont

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.