CHICAGO TRUST Co NA Acquires 4,697 Shares of Newmont Corporation $NEM

Key Points

• CHICAGO TRUST Co NA increased its ownership in Newmont Corporation by 72.1%, acquiring an additional 4,697 shares, bringing its total holdings to 11,216 shares valued at approximately $653,000.
• Several institutional investors have also adjusted their positions, including Siemens Fonds Invest GmbH, which raised its stake by 172.5%, now owning 33,754 shares valued at about $1.26 million.
• Newmont has received positive analyst updates, including UBS raising its target price from $70 to $92, indicating strong market confidence with an average rating of "Moderate Buy" across analysts.

CHICAGO TRUST Co NA boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 72.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,216 shares of the basic materials company's stock after acquiring an additional 4,697 shares during the quarter. CHICAGO TRUST Co NA's holdings in Newmont were worth $653,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NEM. Brighton Jones LLC lifted its position in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. GTS Securities LLC lifted its position in shares of Newmont by 104.5% during the 4th quarter. GTS Securities LLC now owns 7,173 shares of the basic materials company's stock worth $267,000 after buying an additional 164,988 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Newmont during the 4th quarter worth approximately $53,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Newmont during the 4th quarter worth approximately $75,435,000. Finally, Siemens Fonds Invest GmbH lifted its position in shares of Newmont by 172.5% during the 4th quarter. Siemens Fonds Invest GmbH now owns 33,754 shares of the basic materials company's stock worth $1,256,000 after buying an additional 21,368 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday. CIBC lifted their target price 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. The Goldman Sachs Group lifted their target price 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. Raymond James Financial raised their price target on shares of Newmont from $77.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus target price of $73.38.

Newmont Stock Up 1.0%

Newmont stock opened at $84.59 on Wednesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $86.62. The firm has a market capitalization of $92.91 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.97 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $70.47 and a 200 day simple moving average of $58.98.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business 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 EPS. Newmont's revenue was up 20.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Activity

In other 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 transaction 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 Securities & Exchange Commission, which is available at this link. 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 transaction, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents 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 in the last three months. Corporate 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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