Howard Capital Management Inc. Increases Stock Position in Newmont Corporation $NEM

Howard Capital Management Inc. raised its position in Newmont Corporation (NYSE:NEM) by 49.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,316 shares of the basic materials company’s stock after buying an additional 2,416 shares during the quarter. Howard Capital Management Inc.’s holdings in Newmont were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Newmont in the first quarter valued at about $306,507,000. Pacer Advisors Inc. raised its stake in Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after acquiring an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 2,003.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NEM. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Buy” and a consensus target price of $86.92.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $79.60 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $81.80 and a two-hundred day moving average price of $66.25. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a market capitalization of $86.87 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company posted $0.81 EPS. The company’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.