4,324 Shares in Newmont Corporation $NEM Acquired by PDS Planning Inc

Key Points

• PDS Planning Inc acquired 4,324 shares of Newmont Corporation (NYSE:NEM), valued at approximately $252,000, during the second quarter.
• Newmont reported a quarterly earnings per share of $1.43, exceeding the consensus estimate of $0.95, and had a revenue of $5.32 billion for the quarter.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 and a yield of 1.2%.

PDS Planning Inc acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,324 shares of the basic materials company's stock, valued at approximately $252,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Newmont during the 1st quarter worth approximately $26,000. Colonial Trust Advisors raised its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA raised its stake in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares during the period. Alpine Bank Wealth Management bought a new stake in Newmont during the 1st quarter worth approximately $32,000. Finally, TCTC Holdings LLC raised its stake in Newmont by 123.1% during the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after acquiring an additional 362 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Trading Down 0.2%

Shares of NEM opened at $85.07 on Monday. The company's fifty day moving average is $76.77 and its 200 day moving average is $62.65. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37. The stock has a market capitalization of $93.45 billion, a PE ratio of 15.27, a P/E/G ratio of 0.94 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business posted $0.72 earnings per share. Newmont's quarterly revenue was up 20.8% on a year-over-year basis. Sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 over the last quarter. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. Raymond James Financial set a $96.00 target price on shares of Newmont in a research note on Friday. BNP Paribas Exane boosted their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. National Bankshares reissued an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price on the stock. Finally, Zacks Research 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, nine have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.18.

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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