IFS Group LLC Takes Position in Newmont Corporation $NEM

IFS Group LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 1st quarter, Holdings Channel.com reports. The fund acquired 6,890 shares of the basic materials company’s stock, valued at approximately $746,000.

Several other large investors also recently bought and sold shares of NEM. Arete Wealth Advisors LLC raised its position in Newmont by 88.7% in the 1st quarter. Arete Wealth Advisors LLC now owns 44,567 shares of the basic materials company’s stock worth $4,807,000 after buying an additional 20,955 shares during the last quarter. Opal Capital LLC bought a new position in Newmont during the 1st quarter valued at about $736,000. Amundi boosted its holdings in shares of Newmont by 4.4% during the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after acquiring an additional 372,415 shares during the last quarter. Parvin Asset Management LLC boosted its holdings in shares of Newmont by 1.4% during the 1st quarter. Parvin Asset Management LLC now owns 39,385 shares of the basic materials company’s stock valued at $4,263,000 after acquiring an additional 555 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Newmont by 13.3% in the first quarter. EverSource Wealth Advisors LLC now owns 13,928 shares of the basic materials company’s stock worth $1,508,000 after acquiring an additional 1,631 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NEM shares. Scotiabank decreased their price objective on shares of Newmont from $151.00 to $147.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group decreased their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. TD raised Newmont from a “hold” rating to a “buy” rating and lowered their price target for the company from $129.00 to $127.00 in a report on Tuesday, July 14th. Finally, BMO Capital Markets dropped their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. Two equities 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.83.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM opened at $91.34 on Thursday. 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 has a market cap of $96.24 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.02 and a beta of 0.46. The company’s 50 day moving average is $99.02 and its 200 day moving average is $109.65. Newmont Corporation has a 12-month low of $61.76 and a 12-month high of $134.88.

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 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 company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the business posted $1.43 earnings per share. On average, equities research analysts predict that Newmont Corporation will post 8.99 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s payout ratio is presently 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.