Newmont Co. (NYSE:NEM) Stock Holdings Boosted by Profund Advisors LLC

Profund Advisors LLC boosted its position in Newmont Co. (NYSE:NEM) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,009 shares of the basic materials company’s stock after purchasing an additional 998 shares during the quarter. Profund Advisors LLC’s holdings in Newmont were worth $3,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new position in Newmont in the 4th quarter worth approximately $25,000. Sittner & Nelson LLC grew its stake in shares of Newmont by 177.5% in the first quarter. Sittner & Nelson LLC now owns 555 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 355 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Newmont during the second quarter valued at $28,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Newmont during the second quarter valued at about $31,000. Finally, RFP Financial Group LLC acquired a new stake in Newmont in the second quarter worth about $31,000. 79.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $439,010.00. Following the completion of the sale, the chief executive officer now directly owns 256,039 shares of the company’s stock, valued at $10,218,516.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $36.47, for a total transaction of $200,585.00. Following the transaction, the chief operating officer now directly owns 70,751 shares in the company, valued at approximately $2,580,288.97. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $39.91, for a total value of $439,010.00. Following the sale, the chief executive officer now owns 256,039 shares of the company’s stock, valued at $10,218,516.49. The disclosure for this sale can be found here. Insiders have sold a total of 50,049 shares of company stock valued at $1,901,528 in the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Newmont from $53.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. StockNews.com began coverage on Newmont in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $52.00 price objective on shares of Newmont in a report on Wednesday, September 6th. Canaccord Genuity Group lowered their target price on Newmont from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Finally, Argus cut their price target on shares of Newmont from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $56.05.

Newmont Trading Down 0.6 %

Shares of NEM stock traded down $0.21 during trading hours on Friday, reaching $36.35. 8,349,712 shares of the stock traded hands, compared to its average volume of 22,768,380. The company has a quick ratio of 1.72, a current ratio of 2.12 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $28.89 billion, a PE ratio of -35.29, a PEG ratio of 2.40 and a beta of 0.41. Newmont Co. has a 1-year low of $33.58 and a 1-year high of $60.08. The business has a fifty day moving average price of $38.02 and a 200 day moving average price of $40.71.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $3.20 billion. Newmont had a negative net margin of 7.35% and a positive return on equity of 6.28%. On average, equities research analysts forecast that Newmont Co. will post 1.71 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, November 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. Newmont’s payout ratio is presently -155.34%.

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