Bradley Foster & Sargent Inc. CT Makes New Investment in Newmont Corporation $NEM

Bradley Foster & Sargent Inc. CT purchased a new position in Newmont Corporation (NYSE:NEM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,408 shares of the basic materials company’s stock, valued at approximately $585,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Newmont during the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp increased its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after buying an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after buying an additional 3,345,543 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. The trade was a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock worth $3,058,146 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $93.45 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a fifty-two week low of $61.76 and a fifty-two week high of $134.88. The stock has a 50 day moving average price of $99.61 and a two-hundred day moving average price of $109.88. The company has a market capitalization of $98.47 billion, a P/E ratio of 11.80, a PEG ratio of 1.11 and a beta of 0.46.

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 firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the business earned $1.43 earnings per share. Analysts expect that Newmont Corporation will post 8.9 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders 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 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is presently 13.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial cut their price objective on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. TD upgraded shares of Newmont from a “hold” rating to a “buy” rating and decreased their target price for the stock from $129.00 to $127.00 in a research report on Tuesday, July 14th. Finally, TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.26.

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.