Newmont Co. (NYSE:NEM) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC raised its holdings in Newmont Co. (NYSE:NEMGet Rating) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,192 shares of the basic materials company’s stock after acquiring an additional 2,004 shares during the period. Advisory Services Network LLC’s holdings in Newmont were worth $2,479,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC lifted its stake in Newmont by 43.8% in the 1st quarter. Neuberger Berman Group LLC now owns 2,663,548 shares of the basic materials company’s stock worth $211,660,000 after purchasing an additional 811,374 shares in the last quarter. Sawtooth Solutions LLC lifted its stake in Newmont by 32.4% in the 1st quarter. Sawtooth Solutions LLC now owns 10,793 shares of the basic materials company’s stock worth $857,000 after purchasing an additional 2,643 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Newmont by 27.7% in the 1st quarter. EP Wealth Advisors LLC now owns 6,540 shares of the basic materials company’s stock worth $520,000 after purchasing an additional 1,417 shares in the last quarter. Toroso Investments LLC lifted its stake in Newmont by 35.7% in the 1st quarter. Toroso Investments LLC now owns 41,582 shares of the basic materials company’s stock worth $3,304,000 after purchasing an additional 10,948 shares in the last quarter. Finally, Stack Financial Management Inc lifted its stake in Newmont by 0.8% in the 1st quarter. Stack Financial Management Inc now owns 271,597 shares of the basic materials company’s stock worth $21,578,000 after purchasing an additional 2,222 shares in the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE:NEM opened at $43.71 on Friday. The company has a fifty day simple moving average of $46.24 and a two-hundred day simple moving average of $62.66. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 44.15 and a beta of 0.29. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28. Newmont Co. has a 52 week low of $40.27 and a 52 week high of $86.37.

Newmont (NYSE:NEMGet Rating) last posted its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.14). The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. As a group, equities analysts anticipate that Newmont Co. will post 2.61 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.03%. Newmont’s payout ratio is currently 222.22%.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $45.35, for a total transaction of $136,050.00. Following the completion of the transaction, the chief operating officer now owns 48,947 shares in the company, valued at $2,219,746.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $45.35, for a total transaction of $136,050.00. Following the completion of the transaction, the chief operating officer now owns 48,947 shares in the company, valued at $2,219,746.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $45.35, for a total transaction of $498,850.00. Following the completion of the transaction, the chief executive officer now owns 254,949 shares of the company’s stock, valued at approximately $11,561,937.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,000 shares of company stock worth $2,081,920. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of several analyst reports. Fundamental Research reduced their price target on shares of Newmont from $79.52 to $63.91 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and reduced their price target for the company from $66.00 to $60.00 in a research report on Wednesday, July 27th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, September 6th. Barclays reduced their price target on shares of Newmont from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, TD Securities reduced their price target on shares of Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, July 26th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Newmont has an average rating of “Hold” and an average target price of $66.94.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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