Euro Pacific Asset Management LLC Buys New Stake in Newmont Corporation $NEM

Euro Pacific Asset Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 457,938 shares of the basic materials company’s stock, valued at approximately $58,083,000. Newmont accounts for approximately 3.8% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other large investors also recently added to or reduced their stakes in NEM. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the first quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont in the first quarter valued at $25,000. Clearstead Trust LLC acquired a new position in Newmont during the 2nd quarter worth about $25,000. Kilter Group LLC purchased a new position in Newmont during the 2nd quarter valued at about $26,000. Finally, GoalVest Advisory LLC purchased a new position in Newmont during the 3rd quarter valued at about $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein dropped their price objective on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.26.

Insider Activity

In related news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were 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 approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a 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, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% 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. In the last quarter, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Down 1.3%

NYSE:NEM traded down $1.54 during midday trading on Tuesday, reaching $115.61. The company had a trading volume of 4,380,165 shares, compared to its average volume of 8,595,350. The firm has a market capitalization of $121.82 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.65 and a beta of 0.51. The stock’s fifty day simple moving average is $121.26 and its 200-day simple moving average is $110.50. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29. 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 released its earnings results 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm 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 firm posted $1.43 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.