Capital Investment Advisors LLC Buys 12,194 Shares of Newmont Corporation $NEM

Key Points

• Capital Investment Advisors LLC increased its stake in Newmont Corporation by 1.7%, acquiring an additional 12,194 shares, bringing its total ownership to approximately 711,687 shares valued at $41.46 million.
• Newmont Corporation recently reported $1.43 earnings per share (EPS), significantly exceeding analyst estimates of $0.95, with a quarterly revenue of $5.32 billion, up 20.8% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, resulting in a 1.2% yield, and has a current payout ratio of 17.95%.

Capital Investment Advisors LLC increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 711,687 shares of the basic materials company's stock after purchasing an additional 12,194 shares during the quarter. Capital Investment Advisors LLC owned approximately 0.06% of Newmont worth $41,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oak Family Advisors LLC raised its holdings in Newmont by 91.4% during the 2nd quarter. Oak Family Advisors LLC now owns 67,309 shares of the basic materials company's stock valued at $3,921,000 after acquiring an additional 32,139 shares during the period. HB Wealth Management LLC raised its holdings in Newmont by 39.9% during the 2nd quarter. HB Wealth Management LLC now owns 27,719 shares of the basic materials company's stock valued at $1,615,000 after acquiring an additional 7,904 shares during the period. GC Wealth Management RIA LLC bought a new stake in Newmont during the 2nd quarter valued at $381,000. Generate Investment Management Ltd raised its holdings in Newmont by 25.9% during 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 during the period. Finally, V Square Quantitative Management LLC raised its holdings in Newmont by 2.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 19,591 shares of the basic materials company's stock valued at $1,141,000 after acquiring an additional 399 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Stock Down 0.8%

Shares of NYSE:NEM opened at $84.59 on Tuesday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $87.93. The firm has a fifty day moving average of $72.52 and a 200 day moving average of $60.20. The firm has a market capitalization of $92.92 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results 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 net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's 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 completion of the sale, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,169 shares of company stock worth $955,286. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. National Bankshares restated an "outperform" rating on shares of Newmont in a research report on Monday, September 22nd. 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 company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $73.38.

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.

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