Auxano Advisors LLC Buys Shares of 41,366 Newmont Corporation $NEM

Key Points

• Auxano Advisors purchased 41,366 Newmont shares worth approximately $3.86 million, making the stock its 19th-largest holding at 0.7% of its portfolio. Institutional investors collectively own 68.85% of Newmont.
• Newmont reported quarterly EPS of $2.10, beating estimates of $2.05, although revenue of $6.12 billion fell short of the $6.35 billion consensus. The company declared a quarterly dividend of $0.26, equivalent to a 0.9% annualized yield.
• Newmont insiders sold 32,091 shares worth about $3.29 million over the past three months, including sales by the CFO and CEO. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $132.59.

Auxano Advisors LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,366 shares of the basic materials company's stock, valued at approximately $3,864,000. Newmont comprises approximately 0.7% of Auxano Advisors LLC's investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors have also modified their holdings of NEM. Vanguard Group Inc. boosted its holdings in shares of Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. BlackRock Inc. acquired a new position in Newmont in the second quarter valued at $11,289,753,000. State Street Corp increased its stake in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the last quarter. Van ECK Associates Corp lifted its position in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares during the period. Finally, Geode Capital Management LLC lifted its position in Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. 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. In the last three months, insiders sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

NYSE NEM opened at $120.35 on Tuesday. The firm has a market capitalization of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 1-year low of $67.20 and a 1-year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business's 50-day simple moving average is $99.36 and its 200-day simple moving average is $108.81.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Equities analysts predict that Newmont Corporation will post 9 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont's dividend payout ratio is currently 13.13%.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. TD Cowen restated a "buy" rating on shares of Newmont in a report on Monday, April 27th. Bank of America cut their price objective on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. BMO Capital Markets decreased their target price on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Citigroup dropped their price target on shares of Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $132.59.

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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