Ascent Group LLC Acquires 5,844 Shares of Newmont Corporation $NEM

Key Points

• Ascent Group LLC has increased its stake in Newmont Corporation by 74.8%, now holding 13,657 shares valued at approximately $796,000.
• Newmont recently declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 1.1%, with a payout ratio of 17.95%.
• The stock has seen mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price averaging $74.18.

Ascent Group LLC raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 74.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,657 shares of the basic materials company's stock after buying an additional 5,844 shares during the quarter. Ascent Group LLC's holdings in Newmont were worth $796,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the period. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi raised its stake in shares of Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. lifted its holdings in shares of Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after buying an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on NEM. Scotiabank boosted their target price on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Macquarie lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

Newmont Price Performance

NYSE:NEM opened at $88.60 on Tuesday. The stock has a market capitalization of $97.32 billion, a PE ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $89.37. The firm has a fifty day simple moving average of $74.87 and a 200 day simple moving average of $61.56. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter last year, the company posted $0.72 earnings per share. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date 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 (DPR) is presently 17.95%.

Newmont 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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