Sigma Planning Corp trimmed its holdings in Newmont Co. (NYSE:NEM – Get Rating) by 28.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,726 shares of the basic materials company’s stock after selling 4,700 shares during the quarter. Sigma Planning Corp’s holdings in Newmont were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. Intersect Capital LLC purchased a new stake in Newmont during the first quarter valued at about $229,000. M Holdings Securities Inc. bought a new stake in shares of Newmont in the first quarter valued at approximately $681,000. Quadrant Capital Group LLC lifted its position in Newmont by 13.4% in the first quarter. Quadrant Capital Group LLC now owns 4,540 shares of the basic materials company’s stock worth $361,000 after purchasing an additional 536 shares during the period. Allstate Corp lifted its position in Newmont by 1.4% in the first quarter. Allstate Corp now owns 51,236 shares of the basic materials company’s stock worth $4,071,000 after purchasing an additional 722 shares during the period. Finally, State Street Corp raised its stake in Newmont by 0.7% during the first quarter. State Street Corp now owns 40,619,717 shares of the basic materials company’s stock worth $3,227,237,000 after acquiring an additional 270,396 shares in the last quarter. 81.11% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NEM has been the subject of several recent analyst reports. Credit Suisse Group increased their price objective on Newmont to $54.00 in a research note on Monday. Fundamental Research reiterated a “buy” rating and issued a $52.00 price objective on shares of Newmont in a research report on Tuesday, November 15th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, September 12th. They issued a “buy” rating and a $53.00 price objective for the company. Barclays lowered their price objective on Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, StockNews.com started coverage on Newmont in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.33.
Insiders Place Their Bets
Newmont Stock Up 2.5 %
Shares of Newmont stock opened at $46.13 on Wednesday. The business’s 50 day simple moving average is $42.81 and its 200 day simple moving average is $51.09. Newmont Co. has a 52-week low of $37.45 and a 52-week high of $86.37. The firm has a market cap of $36.62 billion, a PE ratio of 36.61 and a beta of 0.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 2.72.
Newmont (NYSE:NEM – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. On average, analysts predict that Newmont Co. will post 1.89 earnings per share for the current fiscal year.
Newmont Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is 174.60%.
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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