Baader Bank Aktiengesellschaft Boosts Holdings in Newmont Corporation $NEM

Key Points

• Baader Bank Aktiengesellschaft has increased its stake in Newmont Corporation (NYSE:NEM) by 16.3%, acquiring an additional 3,444 shares, bringing its total holdings to 24,521 shares valued at approximately $1.37 million.
• Newmont reported better-than-expected quarterly earnings of $1.43 per share, exceeding the consensus estimate by $0.48, alongside a revenue of $5.32 billion.
• The company has declared a quarterly dividend of $0.25 per share, with an annualized dividend yield of 1.3%, to be paid on September 29th.

Baader Bank Aktiengesellschaft raised its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,521 shares of the basic materials company's stock after acquiring an additional 3,444 shares during the period. Baader Bank Aktiengesellschaft's holdings in Newmont were worth $1,366,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Lake Hills Wealth Management LLC purchased a new stake in shares of Newmont in the second quarter worth about $417,000. Sivia Capital Partners LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at $240,000. Central Valley Advisors LLC lifted its holdings in shares of Newmont by 3.4% in the second quarter. Central Valley Advisors LLC now owns 36,985 shares of the basic materials company's stock valued at $2,155,000 after purchasing an additional 1,230 shares in the last quarter. Radnor Capital Management LLC increased its position in Newmont by 1.9% during the second quarter. Radnor Capital Management LLC now owns 20,320 shares of the basic materials company's stock worth $1,184,000 after buying an additional 375 shares during the last quarter. Finally, Sunpointe LLC grew its position in shares of Newmont by 419.2% in the second quarter. Sunpointe LLC now owns 27,391 shares of the basic materials company's stock valued at $1,596,000 after purchasing an additional 22,115 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction 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 $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company'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 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 sold 19,246 shares of company stock worth $1,253,559 over the last three months. Insiders own 0.05% of the company's stock.

Newmont Stock Performance

NEM traded up $1.19 during trading on Monday, reaching $82.91. 5,810,493 shares of the company were exchanged, compared to its average volume of 11,749,359. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $83.80. The stock has a market cap of $91.07 billion, a P/E ratio of 14.87, a PEG ratio of 0.96 and a beta of 0.33. The firm has a 50 day moving average of $69.47 and a 200 day moving average of $58.52. 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 data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business earned $0.72 EPS. The business's revenue for the quarter was up 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont's dividend payout ratio is presently 17.95%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group raised their price target on shares of Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a report on Friday. Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. The Goldman Sachs Group raised their target price on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. Finally, Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. Four investment 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 company presently has an average rating of "Moderate Buy" and an average price target of $72.31.

Newmont Company 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.