13,962 Shares in Newmont Corporation $NEM Purchased by Cox Capital Mgt LLC

Cox Capital Mgt LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,962 shares of the basic materials company’s stock, valued at approximately $1,610,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Newmont during the second quarter worth approximately $11,289,753,000. Van ECK Associates Corp bought a new position in shares of Newmont during the second quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmont during the second quarter worth $1,219,505,000. First Eagle Investment Management LLC acquired a new stake in Newmont in the 2nd quarter worth about $241,820,000. Finally, Amundi acquired a new position in shares of Newmont during the 2nd quarter worth approximately $209,411,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEM shares. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target on shares of Newmont in a research note on Monday, August 24th. National Bank Financial boosted their price target on Newmont from $120.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, September 21st. Sanford C. Bernstein reduced their price target on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Finally, UBS Group decreased their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Stock Down 2.4%

NEM stock traded down $2.83 during mid-day trading on Wednesday, reaching $113.56. 4,344,534 shares of the company traded hands, compared to its average volume of 8,681,464. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $119.95 and its 200 day moving average price is $110.09. The stock has a market cap of $119.66 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.62 and a beta of 0.51. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29.

Newmont (NYSE:NEM) last released its quarterly 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. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the firm posted $1.43 EPS. As a group, equities research analysts predict that Newmont Corporation will post 9.09 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 13.13%.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.