Compound Planning Inc. Has $624,000 Holdings in Newmont Corporation $NEM

Key Points

• Compound Planning Inc. increased its stake in Newmont Corporation by 44.1%, owning 12,923 shares valued at $624,000 as per their latest SEC filing.
• Newmont's quarterly earnings surpassed estimates with $1.43 earnings per share and revenues of $5.32 billion, leading to a strong performance in the stock market.
• Institutional investors now hold approximately 68.85% of Newmont's stock, reflecting significant confidence in the company's prospects.

Compound Planning Inc. raised its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 44.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,923 shares of the basic materials company's stock after buying an additional 3,958 shares during the quarter. Compound Planning Inc.'s holdings in Newmont were worth $624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after purchasing an additional 1,379 shares during the period. First Trust Advisors LP raised its position in shares of Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after purchasing an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont during the 1st quarter worth approximately $423,000. Spire Wealth Management raised its position in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after purchasing an additional 1,309 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter worth approximately $202,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEM. CIBC set a $74.00 price target on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Finally, Raymond James Financial raised their target price on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the sale, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,246 shares of company stock valued at $1,373,251. Insiders own 0.05% of the company's stock.

Newmont Stock Up 0.8%

Shares of NEM traded up $0.61 during mid-day trading on Thursday, reaching $73.00. The company's stock had a trading volume of 6,794,550 shares, compared to its average volume of 11,733,115. The business has a fifty day moving average of $63.29 and a 200 day moving average of $54.58. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $73.29. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 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.