4,528 Shares in Newmont Corporation $NEM Purchased by Private Harbour Investment Management & Counsel LLC

Private Harbour Investment Management & Counsel LLC acquired a new position in Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 4,528 shares of the basic materials company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter worth approximately $11,289,753,000. Van ECK Associates Corp purchased a new stake in shares of Newmont in the 2nd quarter worth approximately $671,197,000. Norges Bank bought a new position in Newmont during the 4th quarter valued at approximately $1,443,128,000. Bank of New York Mellon Corp bought a new position in Newmont during the 2nd quarter valued at approximately $1,219,505,000. Finally, Deutsche Bank AG purchased a new position in Newmont during the second quarter valued at $911,180,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. This represents 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. In the last 90 days, insiders sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of NEM opened at $127.84 on Friday. The company has a market cap of $134.70 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.32 and a beta of 0.47. The business’s fifty day simple moving average is $104.23 and its two-hundred day simple moving average is $109.57. Newmont Corporation has a 12 month low of $72.78 and a 12 month high of $135.29. 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 (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the business earned $1.43 earnings per share. Research analysts anticipate that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Analyst Upgrades and Downgrades

Several research firms have commented on NEM. BMO Capital Markets dropped their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Macquarie Infrastructure reduced their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, National Bank Financial cut their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $132.73.

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.