Cim Investment Management Inc. Has $2.26 Million Stock Holdings in Newmont Corporation $NEM

Cim Investment Management Inc. raised its stake in shares of Newmont Corporation (NYSE:NEM) by 99.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,742 shares of the basic materials company’s stock after purchasing an additional 19,335 shares during the quarter. Cim Investment Management Inc.’s holdings in Newmont were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NEM. Colonial Trust Advisors lifted its position in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Country Trust Bank bought a new stake in shares of Newmont in the 2nd quarter worth about $32,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Newmont during the 2nd quarter worth about $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,240 shares of company stock worth $943,985 in the last ninety days. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 1.2%

NYSE:NEM opened at $98.21 on Friday. The company has a market cap of $107.17 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 0.68 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock’s fifty day moving average price is $87.86 and its two-hundred day moving average price is $74.09. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $102.13.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio is presently 15.53%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. BNP Paribas Exane downgraded Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Friday, December 5th. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Royal Bank Of Canada lifted their price objective on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $96.37.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.