Apollon Wealth Management LLC Raises Stock Holdings in Newmont Corporation $NEM

Apollon Wealth Management LLC increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 101.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,112 shares of the basic materials company's stock after purchasing an additional 11,139 shares during the period. Apollon Wealth Management LLC's holdings in Newmont were worth $1,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Brighton Jones LLC grew its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the period. GAMMA Investing LLC grew its stake in shares of Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock worth $1,021,000 after acquiring an additional 3,840 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Newmont by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 190,069 shares of the basic materials company's stock worth $9,176,000 after acquiring an additional 4,236 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Newmont by 669.9% in the first quarter. Exchange Traded Concepts LLC now owns 66,519 shares of the basic materials company's stock worth $3,212,000 after acquiring an additional 57,879 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Newmont by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 177,531 shares of the basic materials company's stock worth $8,571,000 after acquiring an additional 14,980 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.2%

Shares of NYSE:NEM opened at $90.51 on Wednesday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $91.24. The stock's fifty day moving average price is $77.71 and its 200-day moving average price is $63.13. 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 $99.42 billion, a P/E ratio of 16.25, 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. Newmont's 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 year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend 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 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Wednesday, October 1st. The shares were 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 in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Scotiabank increased 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. UBS Group increased 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. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the stock a "buy" rating in a research note on Sunday. Finally, BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.18.

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.

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