Bfsg LLC Has $16.40 Million Position in Newmont Corporation $NEM

Key Points

• Bfsg LLC increased its position in Newmont Corporation by 12.8% in Q2, holding 281,460 shares worth approximately $16.40 million, making it the sixth largest position in their portfolio.
• Newmont reported $1.43 earnings per share for the latest quarter, surpassing estimates by 48 cents, with a revenue of $5.32 billion reflecting a 20.8% increase year-over-year.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend of $1.00 and a dividend yield of 1.2%.

Bfsg LLC grew its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 281,460 shares of the basic materials company's stock after purchasing an additional 31,880 shares during the quarter. Newmont makes up 1.8% of Bfsg LLC's portfolio, making the stock its 6th biggest position. Bfsg LLC's holdings in Newmont were worth $16,398,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock valued at $101,000 after purchasing an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock worth $260,000 after buying an additional 190 shares during the last quarter. Hemington Wealth Management grew its position in shares of Newmont by 25.2% in the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after buying an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. grew its position in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after buying an additional 200 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its position in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM opened at $83.74 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a fifty day moving average price of $69.93 and a 200 day moving average price of $58.80. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $83.89. The stock has a market cap of $91.98 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.96 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (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 firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the previous year, the business posted $0.72 EPS. The business's revenue was up 20.8% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group lifted their price objective on shares of Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. CIBC lifted their price objective on shares of Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. Finally, Stifel Nicolaus began coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.31.

Insider Activity at Newmont

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

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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