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Concurrent Investment Advisors LLC Buys 2,581 Shares of Newmont Corporation $NEM

Newmont logo with Basic Materials background

Key Points

  • Concurrent Investment Advisors LLC increased its holdings in Newmont Corporation by 26.3% during the second quarter, owning a total of 12,393 shares valued at $722,000.
  • Newmont reported earnings of $1.43 per share for the last quarter, significantly surpassing analyst expectations of $0.95, with a revenue of $5.32 billion compared to estimated $4.70 billion.
  • The company also announced a quarterly dividend of $0.25 per share, representing a yield of 1.0% and a payout ratio of 17.95%.
  • MarketBeat previews top five stocks to own in November.

Concurrent Investment Advisors LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 26.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,393 shares of the basic materials company's stock after acquiring an additional 2,581 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Newmont were worth $722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Bank of New York Mellon Corp raised its position in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its holdings in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi lifted its stake in shares of Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after buying an additional 343,535 shares in the last quarter. Invesco Ltd. boosted its position in shares of Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after buying an additional 228,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 5.0%

NYSE NEM opened at $98.22 on Friday. The firm has a market capitalization of $107.89 billion, a PE ratio of 17.63, a P/E/G ratio of 1.02 and a beta of 0.34. The stock's 50 day moving average is $78.81 and its 200 day moving average is $63.68. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. 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 announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company's revenue for the quarter was up 20.8% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont's payout ratio is 17.95%.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. BNP Paribas cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Finally, CIBC set a $112.00 price target on Newmont and gave the stock an "outperformer" rating in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average target price of $87.59.

View Our Latest Stock Analysis on NEM

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was 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. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 over the last three months. Insiders own 0.05% of the company's stock.

Newmont Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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