Macquarie Group Ltd. raised its position in Newmont Co. (NYSE:NEM – Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 602,324 shares of the basic materials company’s stock after acquiring an additional 14,046 shares during the quarter. Macquarie Group Ltd. owned 0.08% of Newmont worth $29,526,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NEM. Compass Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Newmont during the 1st quarter valued at approximately $26,000. Sittner & Nelson LLC boosted its stake in shares of Newmont by 177.5% during the 1st quarter. Sittner & Nelson LLC now owns 555 shares of the basic materials company’s stock valued at $27,000 after buying an additional 355 shares during the last quarter. Delta Asset Management LLC TN purchased a new position in shares of Newmont during the 4th quarter valued at approximately $30,000. Finally, Caldwell Sutter Capital Inc. purchased a new position in shares of Newmont during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.53% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Argus reduced their target price on Newmont from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. TD Securities reduced their target price on Newmont from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, July 24th. StockNews.com initiated coverage on Newmont in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Raymond James reduced their price objective on Newmont from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, September 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $52.00 price objective on shares of Newmont in a research note on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $58.00.
In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.85, for a total transaction of $471,350.00. Following the transaction, the chief executive officer now directly owns 278,039 shares of the company’s stock, valued at $11,913,971.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $39.91, for a total transaction of $219,505.00. Following the transaction, 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 this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.85, for a total value of $471,350.00. Following the transaction, the chief executive officer now directly owns 278,039 shares in the company, valued at $11,913,971.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,683 shares of company stock valued at $1,600,929. Company insiders own 0.07% of the company’s stock.
Newmont Stock Performance
NEM stock opened at $40.33 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 2.28. The stock has a market capitalization of $32.05 billion, a price-to-earnings ratio of -42.01, a PEG ratio of 1.64 and a beta of 0.38. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $60.08. The stock’s fifty day moving average is $40.76 and its two-hundred day moving average is $43.75.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The basic materials company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.93 billion. Newmont had a negative net margin of 6.77% and a positive return on equity of 5.74%. Newmont’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, research analysts predict that Newmont Co. will post 2.04 EPS for the current year.
Newmont Dividend Announcement
The firm also recently declared 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 3.97%. The ex-dividend date is Wednesday, September 6th. Newmont’s dividend payout ratio (DPR) is -166.66%.
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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