Euro Pacific Asset Management LLC Makes New Investment in Newmont Corporation $NEM

Euro Pacific Asset Management LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel.com reports. The firm purchased 457,938 shares of the basic materials company’s stock, valued at approximately $58,083,000. Newmont makes up about 3.8% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 6th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont during the first quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new position in Newmont in the third quarter valued at approximately $28,000. Clearstead Trust LLC acquired a new position in Newmont in the second quarter valued at approximately $25,000. Finally, Kilter Group LLC acquired a new position in Newmont in the second quarter valued at approximately $26,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of Newmont 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 transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of Newmont stock traded down $1.54 on Tuesday, hitting $115.61. The stock had a trading volume of 4,380,165 shares, compared to its average volume of 8,595,350. Newmont Corporation has a 52-week low of $76.05 and a 52-week 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. The stock has a market cap of $121.82 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.65 and a beta of 0.51. The company’s 50 day moving average price is $121.26 and its 200 day moving average price is $110.50.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $1.43 EPS. On average, research analysts anticipate that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on NEM shares. TD raised their price objective on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Macquarie Infrastructure reduced their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Jefferies Financial Group lowered their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, July 6th. BNP Paribas Exane lowered their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Finally, Scotiabank increased their target price on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.26.

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.