4,600 Shares in Newmont Corporation $NEM Acquired by Gables Capital Management Inc.

Gables Capital Management Inc. bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,600 shares of the basic materials company’s stock, valued at approximately $430,000.

Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC purchased a new stake in Newmont in the 2nd quarter valued at about $15,094,000. Foster & Motley Inc. purchased a new position in Newmont during the second quarter worth about $445,000. First National Bank of Omaha purchased a new position in Newmont during the second quarter worth about $5,917,000. Sagace Wealth Management LLC acquired a new stake in shares of Newmont during the second quarter valued at about $248,000. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $2,365,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEM shares. Royal Bank Of Canada lowered their price objective on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group decreased their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Scotiabank lifted their price objective on Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Two investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.59.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $115.99 on Wednesday. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The company has a market cap of $122.22 billion, a PE ratio of 14.65, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The business has a 50-day simple moving average of $99.71 and a 200-day simple moving average of $108.70.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, equities research analysts forecast that Newmont Corporation will post 9 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is presently 13.13%.

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.