OMERS ADMINISTRATION Corp Buys Shares of 78,687 Newmont Corporation $NEM

OMERS ADMINISTRATION Corp purchased a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 78,687 shares of the basic materials company’s stock, valued at approximately $7,349,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP boosted its holdings in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new stake in Newmont in the 2nd quarter worth $240,000. Cerity Partners LLC grew its position in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NYSE:NEM opened at $131.84 on Tuesday. The business’s fifty day moving average price is $102.12 and its two-hundred day moving average price is $109.03. Newmont Corporation has a fifty-two week low of $70.88 and a fifty-two week high of $134.88. The stock has a market capitalization of $138.92 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the business earned $1.43 earnings per share. As a group, analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Ratings Changes

NEM has been the subject of several research reports. Canaccord Genuity Group reduced their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. TD boosted their price target on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. BNP Paribas Exane cut their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Scotiabank raised their price objective on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, National Bank Financial decreased their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 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 SEC filing for this sale provides additional information. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Newmont 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.