ACG Wealth Takes $144,000 Position in Newmont Co. (NYSE:NEM)

ACG Wealth acquired a new position in shares of Newmont Co. (NYSE:NEMGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,407 shares of the basic materials company’s stock, valued at approximately $144,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new position in Newmont in the 1st quarter worth about $28,000. Central Bank & Trust Co. acquired a new stake in shares of Newmont in the first quarter valued at about $29,000. Pacific Center for Financial Services acquired a new stake in shares of Newmont in the first quarter valued at about $30,000. Vectors Research Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $25,000. Finally, Riverview Trust Co acquired a new stake in shares of Newmont in the first quarter valued at about $38,000. 81.11% of the stock is currently owned by institutional investors.

Newmont Stock Up 0.2 %

NEM stock opened at $42.50 on Friday. Newmont Co. has a twelve month low of $40.27 and a twelve month high of $86.37. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $45.08 and its 200-day moving average is $61.82. The firm has a market capitalization of $33.73 billion, a PE ratio of 42.93 and a beta of 0.29.

Newmont (NYSE:NEMGet Rating) last posted its 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). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $0.83 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Sell-side analysts expect that Newmont Co. will post 2.61 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 8th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, September 7th. Newmont’s payout ratio is 222.22%.

Insider Activity at Newmont

In related news, CFO Nancy Buese sold 10,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at $2,431,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Nancy Buese sold 10,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at $2,431,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $45.35, for a total value of $498,850.00. Following the sale, the chief executive officer now directly owns 254,949 shares of the company’s stock, valued at $11,561,937.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,000 shares of company stock valued at $2,081,920. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. National Bank Financial upgraded Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, September 6th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, September 12th. They set a “buy” rating and a $53.00 target price on the stock. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and cut their target price for the company from $66.00 to $60.00 in a research report on Wednesday, July 27th. Finally, TD Securities cut their target price on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Hold” and a consensus price target of $66.94.

About Newmont

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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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