Atria Wealth Solutions Inc. Has $585,000 Stock Position in Newmont Corporation $NEM

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Newmont Corporation by 58.6% in Q2, now holding shares worth $585,000.
• Newmont's stock has declined by 7.6%, currently opening at $90.76, with a market capitalization of $99.69 billion.
• The company reported earnings of $1.43 per share, surpassing analyst expectations of $0.95 and showing a 20.8% revenue increase year-over-year.

Atria Wealth Solutions Inc. lowered its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 58.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,007 shares of the basic materials company's stock after selling 14,179 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Newmont were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NEM. Knights of Columbus Asset Advisors LLC increased its position in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company's stock valued at $912,000 after acquiring an additional 5,848 shares in the last quarter. Generate Investment Management Ltd increased its position in Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock valued at $22,079,000 after acquiring an additional 77,865 shares in the last quarter. Bessemer Group Inc. increased its position in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after acquiring an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Newmont in the 1st quarter valued at about $423,000. Finally, Cypress Capital Group increased its position in Newmont by 6.5% in the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company's stock valued at $2,828,000 after acquiring an additional 2,959 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Down 7.6%

Newmont stock opened at $90.76 on Monday. The company's 50 day simple moving average is $79.24 and its 200 day simple moving average is $64.19. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The firm has a market capitalization of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.63 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last released 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. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $0.72 EPS. Newmont's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director owned 36,869 shares of the company's stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 in the last 90 days. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NEM shares. Weiss Ratings cut shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. TD Securities lifted their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a research report on Wednesday, October 8th. BNP Paribas Exane lifted their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average price target of $87.59.

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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