Country Club Bank Trims Stake in Newmont Corporation $NEM

Key Points

• Country Club Bank reduced its stake in Newmont Corporation by 34.7%, holding 58,324 shares worth approximately $3.31 million after selling 31,014 shares in the second quarter.
• Newmont Corporation reported an EPS of $1.43 for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.25, yielding 1.1%.
• Research analysts have mixed views on Newmont, with ratings ranging from strong-buy to sell, and a consensus price target of $74.18.

Country Club Bank trimmed its position in Newmont Corporation (NYSE:NEM - Free Report) by 34.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,324 shares of the basic materials company's stock after selling 31,014 shares during the quarter. Country Club Bank's holdings in Newmont were worth $3,310,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Generate Investment Management Ltd grew 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 worth $22,079,000 after acquiring an additional 77,865 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Newmont by 13.2% during the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Newmont during the first quarter valued at approximately $423,000. Spire Wealth Management raised its stake in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its holdings in Newmont by 269.4% during the first quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock worth $426,000 after buying an additional 6,439 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Raymond James Financial lifted their target price on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. CIBC increased their price target on shares of Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.18.

Newmont Price Performance

Shares of NEM stock opened at $88.60 on Tuesday. The firm has a market capitalization of $97.32 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock's 50-day simple moving average is $74.87 and its 200-day simple moving average is $61.56. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping 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 company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same period last year, the business earned $0.72 EPS. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend payout ratio (DPR) is 17.95%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by company insiders.

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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