Arete Wealth Advisors LLC Raises Position in Newmont Corporation $NEM

Key Points

• Arete Wealth Advisors increased its Newmont stake by 90.4% in the first quarter, bringing its holdings to 44,950 shares valued at approximately $4.85 million. Institutional investors collectively own 68.85% of the company.
• Analysts maintain a generally positive view, with Newmont receiving a consensus “Moderate Buy” rating and an average price target of $132.83, despite several recent target-price reductions.
• Newmont reported quarterly EPS of $2.10, topping estimates, while revenue of $6.12 billion fell short of expectations. The company also declared a quarterly dividend of $0.26 per share, yielding about 1.1% annually.

Arete Wealth Advisors LLC grew its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 90.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,950 shares of the basic materials company's stock after purchasing an additional 21,338 shares during the quarter. Arete Wealth Advisors LLC's holdings in Newmont were worth $4,853,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new stake in Newmont in the 1st quarter worth $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter valued at $28,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. TD raised shares of Newmont from a "hold" rating to a "buy" rating and reduced their target price for the stock from $129.00 to $127.00 in a report on Tuesday, July 14th. TD Cowen reiterated a "buy" rating on shares of Newmont in a report on Monday, April 27th. BMO Capital Markets cut their price target on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 23rd. The Goldman Sachs Group decreased their price objective on shares of Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Finally, UBS Group dropped their target price on Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $132.83.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares of the company's stock, valued at $4,001,439.70. The trade was a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,882 shares of company stock worth $1,001,952 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $93.70 on Friday. The firm has a 50-day simple moving average of $98.48 and a 200-day simple moving average of $109.45. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $98.73 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. Newmont Corporation has a 52 week low of $61.76 and a 52 week high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities analysts predict that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's payout ratio is presently 13.13%.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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