Triumph Capital Management Makes New Investment in Newmont Corporation $NEM

Triumph Capital Management purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,322 shares of the basic materials company’s stock, valued at approximately $195,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares in the last quarter. Coston McIsaac & Partners raised its stake in shares of Newmont by 28.6% during the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Newmont by 6.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock worth $1,861,000 after acquiring an additional 100 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Newmont by 4.2% in the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a research note on Friday, August 14th. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. BNP Paribas Exane lowered their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Citigroup dropped their target price on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, National Bank Financial lowered their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $132.73.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,209 shares of company stock worth $2,567,701 in the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 2.0%

Newmont stock opened at $125.13 on Thursday. Newmont Corporation has a 12 month low of $73.44 and a 12 month high of $135.29. The business’s fifty day simple moving average is $105.83 and its two-hundred day simple moving average is $109.56. The company has a market capitalization of $131.84 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. 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 issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the company earned $1.43 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given 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 payout ratio is 13.13%.

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.