Wealth Preservation Advisors LLC Invests $213,000 in Newmont Corporation $NEM

Key Points

• Wealth Preservation Advisors LLC has acquired a new position in Newmont Corporation, purchasing 4,418 shares valued at approximately $213,000 in the first quarter.
• Newmont Corporation has reported a quarterly EPS of $1.43, exceeding expectations and showing a revenue increase of 20.8% year-over-year, with revenue reaching $5.32 billion.
• The company recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 1.4%, to be paid on September 29th.

Wealth Preservation Advisors LLC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,418 shares of the basic materials company's stock, valued at approximately $213,000.

Other hedge funds have also recently modified their holdings of the company. Hemington Wealth Management increased its holdings in shares of Newmont by 25.2% in the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. grew its stake in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Rothschild Investment LLC grew its stake in Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its holdings in shares of Newmont by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded up $1.51 during trading hours on Friday, reaching $74.48. The company had a trading volume of 7,943,120 shares, compared to its average volume of 8,457,726. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock has a fifty day moving average of $63.91 and a 200-day moving average of $54.97. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.86 and a beta of 0.30. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $74.52.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Activity

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the sale, the director owned 41,026 shares in the company, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,246 shares of company stock worth $1,373,251. Corporate insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. UBS Group upped their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. CIBC set a $74.00 price target on Newmont and gave the stock a "neutral" rating in a report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Finally, Raymond James Financial upped their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

About Newmont

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.