Cardinal Point Capital Management ULC Has $8.33 Million Stake in Newmont Corporation $NEM

Key Points

• Cardinal Point Capital Management ULC reduced its stake in Newmont Corporation by 5.7%, now holding 142,905 shares valued at $8.33 million.
• Several other institutional investors increased their stakes, with Hemington Wealth Management boosting its holdings by 17.6%.
• Newmont will pay a quarterly dividend of $0.25 per share on December 22, with a dividend yield of 1.1% and a payout ratio of 17.95%.

Cardinal Point Capital Management ULC reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,905 shares of the basic materials company's stock after selling 8,590 shares during the period. Cardinal Point Capital Management ULC's holdings in Newmont were worth $8,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Hemington Wealth Management boosted its stake in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 170 shares during the last quarter. IVC Wealth Advisors LLC increased its holdings in Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company's stock worth $813,000 after acquiring an additional 173 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after acquiring an additional 185 shares during the period. Aaron Wealth Advisors LLC increased its holdings in Newmont by 4.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock worth $260,000 after acquiring an additional 190 shares during the period. Finally, Chelsea Counsel Co. increased its holdings in shares of Newmont by 1.0% in the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company's stock worth $1,067,000 after buying an additional 190 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company's stock, valued at approximately $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 the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC set a $112.00 target price on shares of Newmont and gave the company an "outperformer" rating in a report on Friday, October 10th. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Finally, Raymond James Financial set a $96.00 price target on shares of Newmont in a research report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.39.

Newmont Stock Performance

NEM opened at $88.93 on Friday. 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 Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The company has a market cap of $97.69 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.59 and a beta of 0.34. The company's 50 day moving average is $80.89 and its 200 day moving average is $65.15.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company's quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont's dividend payout ratio is presently 17.95%.

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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