Walleye Capital LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,582 shares of the basic materials company’s stock, valued at approximately $602,000.
Other hedge funds also recently bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new stake in shares of Newmont during the first quarter valued at $28,000. Central Bank & Trust Co. bought a new stake in Newmont during the 1st quarter valued at about $29,000. Pacific Center for Financial Services purchased a new stake in Newmont in the 1st quarter valued at about $30,000. Vectors Research Management LLC bought a new position in Newmont in the 4th quarter worth about $25,000. Finally, Riverview Trust Co purchased a new position in shares of Newmont during the first quarter worth approximately $38,000. Institutional investors own 81.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on NEM shares. TD Securities dropped their price objective on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, July 26th. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, September 12th. They set a “buy” rating and a $53.00 price target on the stock. Fundamental Research lowered their price objective on shares of Newmont from $79.52 to $63.91 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Canaccord Genuity Group upgraded shares of Newmont from a “hold” rating to a “buy” rating and dropped their target price for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. Finally, National Bank Financial upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 27th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.94.
Newmont Stock Down 0.9 %
Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.14). The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. Newmont’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Equities research analysts forecast that Newmont Co. will post 2.61 EPS for the current fiscal year.
Newmont Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be issued a $0.55 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.19%. Newmont’s dividend payout ratio is currently 222.22%.
Insider Transactions at Newmont
In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $59.43, for a total value of $653,730.00. Following the transaction, the chief executive officer now directly owns 265,949 shares of the company’s stock, valued at approximately $15,805,349.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $59.43, for a total transaction of $653,730.00. Following the completion of the sale, the chief executive officer now owns 265,949 shares of the company’s stock, valued at $15,805,349.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total transaction of $615,000.00. Following the transaction, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at $2,431,095. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock worth $2,081,920. Company insiders own 0.11% of the company’s stock.
Newmont Company Profile
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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