111 Capital Buys New Holdings in Newmont Corporation $NEM

Key Points

• 111 Capital purchased a new stake in Newmont Corporation, acquiring 32,295 shares worth approximately $1.88 million during the second quarter.
• Newmont reported earnings of $1.43 per share for the last quarter, exceeding the consensus estimate by $0.48 with revenue of $5.32 billion, reflecting a year-over-year increase of 20.8%.
• The company has disclosed a quarterly dividend of $0.25, in line with a 1.2% yield and a dividend payout ratio of 17.95%.

111 Capital bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,295 shares of the basic materials company's stock, valued at approximately $1,882,000.

A number of other large investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. lifted its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors lifted its holdings in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA lifted its holdings in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in Newmont in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Trading Up 0.5%

Shares of NEM stock opened at $86.86 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company has a market cap of $95.41 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.96 and a beta of 0.34. The stock has a 50 day simple moving average of $74.37 and a 200-day simple moving average of $61.08. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $87.93.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm's revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

Analyst Ratings Changes

A number of research analysts have issued reports on NEM shares. CIBC boosted their price target on Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Weiss Ratings reissued a "buy (b-)" rating on shares of Newmont in a report on Saturday, September 27th. UBS Group upped their target price on Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Scotiabank upped their target price on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Finally, Raymond James Financial upped their target price on Newmont from $77.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.18.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by insiders.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.

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