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

Private Harbour Investment Management & Counsel LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,528 shares of the basic materials company’s stock, valued at approximately $95,000.

A number of other large investors have also added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of Newmont in the fourth quarter worth approximately $9,018,000. ARS Investment Partners LLC raised its holdings in Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Newmont during the 2nd quarter valued at $36,180,000. Asset One Wealth Management LLC purchased a new stake in Newmont during the 2nd quarter valued at $2,866,000. Finally, Private Advisory Group LLC purchased a new stake in Newmont during the 2nd quarter valued at $10,430,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of analyst reports. Macquarie Infrastructure decreased their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. UBS Group dropped their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. National Bank Financial cut their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Jefferies Financial Group cut their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, TD boosted their price target on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Insiders Place Their Bets

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the company’s 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 transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $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 accessible through 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 the stock in a transaction that occurred on 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 directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,091 shares of company stock worth $3,292,513 over the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 3.4%

Shares of Newmont stock opened at $127.84 on Friday. 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 company’s fifty day simple moving average is $104.23 and its two-hundred day simple moving average is $109.57. The company has a market cap of $134.70 billion, a P/E ratio of 16.14, a PEG ratio of 1.32 and a beta of 0.47. Newmont Corporation has a 12-month low of $72.78 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the business earned $1.43 EPS. Research analysts anticipate that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

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

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.