Lowe Wealth Advisors LLC Sells 660 Shares of Newmont Co. (NYSE:NEM)

Lowe Wealth Advisors LLC trimmed its position in Newmont Co. (NYSE:NEMFree Report) by 23.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,205 shares of the basic materials company’s stock after selling 660 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Newmont were worth $94,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Newmont by 3.1% during the first quarter. BlackRock Inc. now owns 95,023,960 shares of the basic materials company’s stock valued at $4,658,075,000 after buying an additional 2,899,139 shares during the period. Deutsche Bank AG boosted its position in shares of Newmont by 12.8% during the first quarter. Deutsche Bank AG now owns 17,968,912 shares of the basic materials company’s stock valued at $880,836,000 after buying an additional 2,042,778 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Newmont by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,560,326 shares of the basic materials company’s stock valued at $781,647,000 after buying an additional 1,684,260 shares during the period. FMR LLC boosted its position in shares of Newmont by 13.0% during the first quarter. FMR LLC now owns 14,718,524 shares of the basic materials company’s stock valued at $721,502,000 after buying an additional 1,695,666 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Newmont by 43.8% during the fourth quarter. Neuberger Berman Group LLC now owns 9,394,984 shares of the basic materials company’s stock valued at $443,470,000 after buying an additional 2,862,233 shares during the period. 79.53% of the stock is owned by institutional investors.

Newmont Stock Up 0.6 %

Shares of NEM opened at $39.51 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.28 and a quick ratio of 1.87. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $60.08. The company’s fifty day moving average price is $40.80 and its 200-day moving average price is $43.77.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings data on Thursday, July 20th. The basic materials company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Newmont had a negative net margin of 6.77% and a positive return on equity of 5.74%. Newmont’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. Sell-side analysts anticipate that Newmont Co. will post 2.04 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Wednesday, September 6th. Newmont’s dividend payout ratio (DPR) is presently -166.66%.

Insider Activity

In other news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $39.91, for a total transaction of $219,505.00. Following the sale, the chief operating officer now directly owns 76,251 shares of the company’s stock, valued at $3,043,177.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $219,505.00. Following the sale, the chief operating officer now directly owns 76,251 shares of the company’s stock, valued at $3,043,177.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $42.16, for a total transaction of $463,760.00. Following the completion of the sale, the chief executive officer now directly owns 267,039 shares in the company, valued at $11,258,364.24. The disclosure for this sale can be found here. Insiders have sold 38,683 shares of company stock valued at $1,600,929 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. Argus decreased their price target on shares of Newmont from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Raymond James decreased their price target on shares of Newmont from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating and decreased their price target for the company from $54.00 to $50.00 in a research note on Friday, July 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 price target on shares of Newmont in a research note on Wednesday, September 6th. Finally, TD Securities decreased their price target on shares of Newmont from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $58.00.

View Our Latest Analysis on NEM

About Newmont

(Free Report)

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, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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