CW Advisors LLC Buys Shares of 4,261 Newmont Corporation $NEM

Key Points

• CW Advisors LLC has purchased 4,261 shares of Newmont Corporation, representing a new position valued at approximately $205,000.
• Newmont Corporation reported $1.43 earnings per share for the latest quarter, exceeding analysts' expectations and showcasing a 20.8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, with a record date of September 4th and an annualized yield of 1.4%.

CW Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,261 shares of the basic materials company's stock, valued at approximately $205,000.

Several other large investors also recently made changes to their positions in NEM. SOA Wealth Advisors LLC. raised its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth $26,000. Colonial Trust Advisors raised its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after acquiring an additional 429 shares in the last quarter. Private Trust Co. NA raised its position in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC bought a new stake in Newmont during the first quarter worth $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Up 0.8%

NEM opened at $73.00 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $73.29. The stock's fifty day simple moving average is $63.58 and its 200 day simple moving average is $54.77. 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 stock has a market cap of $80.18 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.4%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Analysts Set New Price Targets

Several research firms have issued reports on NEM. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. CIBC set a $74.00 price target on shares of Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Raymond James Financial increased their price target on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Scotiabank increased their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the 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 transaction, the director owned 41,026 shares in the company, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock worth $1,373,251 in the last 90 days. Company 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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