Crumly & Associates Inc. Takes Position in Newmont Corporation $NEM

Key Points

• Crumly & Associates Inc. has acquired a new stake in Newmont Corporation, purchasing 8,587 shares valued at approximately $500,000.
• Wall Street analysts have set various price targets for Newmont's stock, with a consensus average target of $67.38 and ratings ranging from "Strong Buy" to "Sell."
• Newmont declared a quarterly dividend of $0.25 per share, which translates to an annualized dividend of $1.00 and a yield of 1.3%.

Crumly & Associates Inc. acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,587 shares of the basic materials company's stock, valued at approximately $500,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Newmont during the 1st quarter worth about $26,000. Colonial Trust Advisors boosted its holdings in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after buying an additional 429 shares during the period. Private Trust Co. NA boosted its holdings in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the period. Finally, Nexus Investment Management ULC bought a new stake in shares of Newmont during the 1st quarter worth about $31,000. Institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Scotiabank lifted their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. UBS Group lifted their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $66.00 to $95.00 in a research note on Wednesday. Finally, Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.38.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred 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. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,246 shares of company stock valued at $1,253,559. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

Shares of Newmont stock opened at $79.25 on Friday. The company has a 50 day moving average of $67.46 and a 200-day moving average of $57.05. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $80.07. 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 company has a market cap of $87.05 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share 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 the consensus estimate of $4.70 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm's quarterly revenue was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

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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