14,059 Shares in Newmont Corporation $NEM Bought by Old Port Advisors

Key Points

• Old Port Advisors purchased 14,059 shares of Newmont Corporation for approximately $819,000 in the second quarter, marking a new investment in the company.
• Multiple institutional investors, including Brighton Jones LLC and Wealth Enhancement Advisory Services LLC, have significantly increased their holdings in Newmont stock during recent quarters.
• Newmont announced a quarterly dividend of $0.25 per share, which equates to an annualized dividend of $1.00, representing a yield of 1.2% with a payout ratio of 17.95%.

Old Port Advisors purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,059 shares of the basic materials company's stock, valued at approximately $819,000.

A number of other large investors have also modified their holdings of NEM. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Newmont by 30.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 185,833 shares of the basic materials company's stock worth $6,917,000 after buying an additional 43,250 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Newmont by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company's stock worth $6,741,000 after buying an additional 2,877 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Newmont by 51.5% during the first quarter. Central Pacific Bank Trust Division now owns 7,573 shares of the basic materials company's stock worth $366,000 after buying an additional 2,573 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Newmont by 132.4% during the first quarter. Versant Capital Management Inc now owns 2,384 shares of the basic materials company's stock worth $115,000 after buying an additional 1,358 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEM. CIBC upped their target price on shares of Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, September 12th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. BNP Paribas Exane upped their price objective on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, September 15th. UBS Group upped their price objective on shares of Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.38.

Insider Buying and Selling at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,246 shares of company stock valued at $1,253,559 over the last 90 days. 0.05% of the stock is owned by insiders.

Newmont Trading Up 1.8%

NYSE NEM opened at $85.17 on Friday. The firm's 50-day moving average is $72.02 and its two-hundred day moving average is $59.83. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $86.62. 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 stock has a market capitalization of $93.55 billion, a P/E ratio of 15.29, a PEG ratio of 0.99 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont's dividend payout ratio is presently 17.95%.

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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