Advisory Services Network LLC Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Advisory Services Network LLC boosted its position in Newmont Co. (NYSE:NEMGet Rating) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,192 shares of the basic materials company’s stock after purchasing an additional 2,004 shares during the period. Advisory Services Network LLC’s holdings in Newmont were worth $2,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. BlackRock Inc. lifted its position in shares of Newmont by 0.8% during the 1st quarter. BlackRock Inc. now owns 92,339,052 shares of the basic materials company’s stock valued at $7,336,337,000 after buying an additional 703,555 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Newmont by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 66,911,768 shares of the basic materials company’s stock worth $5,316,140,000 after purchasing an additional 1,225,458 shares in the last quarter. State Street Corp lifted its holdings in Newmont by 0.7% in the 1st quarter. State Street Corp now owns 40,619,717 shares of the basic materials company’s stock worth $3,227,237,000 after purchasing an additional 270,396 shares in the last quarter. GQG Partners LLC lifted its holdings in Newmont by 182.0% in the 1st quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company’s stock worth $2,547,688,000 after purchasing an additional 20,699,677 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Newmont by 0.4% in the 1st quarter. First Eagle Investment Management LLC now owns 17,502,393 shares of the basic materials company’s stock worth $1,390,565,000 after purchasing an additional 69,139 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 business’s 50 day moving average price is $46.24 and its 200-day moving average price is $62.66. The company has a market cap of $34.69 billion, a P/E ratio of 44.15 and a beta of 0.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82. Newmont Co. has a fifty-two week low of $40.27 and a fifty-two week high of $86.37.

Newmont (NYSE:NEMGet Rating) last announced its quarterly earnings data 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 the consensus estimate of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The business’s revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. Sell-side analysts predict that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.03%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio (DPR) is presently 222.22%.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and lowered their price target for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. Barclays lowered their price target on Newmont from $58.00 to $57.00 and set an “equal weight” rating on the stock in a report on Friday. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, September 12th. They issued a “buy” rating and a $53.00 price target on the stock. Raymond James lowered their price target on Newmont from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Friday. Finally, TD Securities reduced 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. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.94.

Insider Buying and Selling at Newmont

In other Newmont 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 owns 265,949 shares of the company’s stock, valued at approximately $15,805,349.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $59.43, for a total transaction of $653,730.00. Following the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $45.35, for a total transaction of $136,050.00. Following the transaction, the chief operating officer now directly owns 48,947 shares in the company, valued at approximately $2,219,746.45. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $2,081,920 in the last quarter. 0.11% of the stock is owned by insiders.

Newmont Company Profile

(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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