7,813 Shares in Newmont Corporation $NEM Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC has acquired 7,813 shares of Newmont Corporation, valued at approximately $377,000, indicating institutional interest in the basic materials company.
• Major institutional investors, including Bank of New York Mellon Corp and Northern Trust Corp, have increased their stakes in Newmont, reflecting a 68.85% ownership by hedge funds and other institutions.
• Newmont's recent quarterly earnings report showed a significant surge in revenue to $5.32 billion, exceeding analysts' expectations, alongside a declared quarterly dividend of $0.25.

Ascent Group LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,813 shares of the basic materials company's stock, valued at approximately $377,000.

Other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its position 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 buying an additional 201 shares during the period. Cloud Capital Management LLC purchased a new stake in Newmont during the 1st quarter valued at $26,000. Colonial Trust Advisors boosted its position in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after buying an additional 429 shares during the period. Private Trust Co. NA boosted its position in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the period. Finally, Nexus Investment Management ULC purchased a new stake in Newmont during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Down 0.5%

Shares of Newmont stock traded down $0.40 during trading on Friday, hitting $79.25. The company's stock had a trading volume of 8,282,397 shares, compared to its average volume of 8,585,552. 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 company has a fifty day simple moving average of $67.46 and a two-hundred day simple moving average of $57.15. The company has a market capitalization of $87.05 billion, a PE ratio of 16.21, a P/E/G ratio of 0.95 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $80.07.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating 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 the consensus estimate of $4.70 billion. During the same period in the prior year, the firm posted $0.72 EPS. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NEM shares. Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Raymond James Financial upped their price objective on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Scotiabank upped their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Finally, UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $67.38.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director directly owned 38,949 shares of the company's stock, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by insiders.

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.