Arista Wealth Management LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,600 shares of the basic materials company's stock, valued at approximately $209,000.
Other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter worth about $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 worth $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners lifted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock worth $27,000 after purchasing an additional 385 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 worth $30,000 after purchasing an additional 347 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in Newmont in the first quarter worth about $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have commented on NEM shares. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Citigroup upped their price target on shares of Newmont from $74.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday. Finally, BNP Paribas downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.59.
Read Our Latest Report on Newmont
Insiders Place Their Bets
In other news, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company's stock.
Newmont Price Performance
NYSE NEM opened at $90.76 on Friday. The stock's 50-day moving average price is $79.24 and its two-hundred day moving average price is $63.97. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $99.69 billion, a PE ratio of 16.29, a PEG ratio of 1.07 and a beta of 0.34. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58.
Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.
Newmont Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont's payout ratio is presently 17.95%.
Newmont Profile
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Free Report)
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.
Read More
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