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Cwm LLC Boosts Holdings in Newmont Corporation $NEM

Newmont logo with Basic Materials background

Key Points

  • Cwm LLC increased its holdings in Newmont Corporation by 137.6% during the 2nd quarter, owning 44,356 shares valued at $2,584,000 at the end of the period.
  • Newmont reported earnings of $1.43 per share, significantly beating analysts' estimates of $0.95, and its revenue for the quarter was $5.32 billion, exceeding predictions of $4.70 billion.
  • The company declared a quarterly dividend of $0.25, which translates to an annualized dividend of $1.00, yielding 1.1% with a payout ratio of 17.95%.
  • Interested in Newmont? Here are five stocks we like better.

Cwm LLC grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 137.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,356 shares of the basic materials company's stock after purchasing an additional 25,686 shares during the period. Cwm LLC's holdings in Newmont were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter worth approximately $26,000. Colonial Trust Advisors boosted its position in shares of Newmont by 315.4% in 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 during the last quarter. Private Trust Co. NA boosted its position in shares of Newmont by 122.6% in 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 during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the first quarter worth approximately $32,000. Finally, TCTC Holdings LLC boosted its position in shares of Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after acquiring an additional 362 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 7.6%

NEM opened at $90.76 on Friday. The firm has a market capitalization of $99.69 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.99 and a beta of 0.34. The firm's 50 day moving average is $79.24 and its 200-day moving average is $64.08. Newmont Corporation has a 52-week low of $36.86 and a 52-week 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 posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price on the stock. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the stock a "buy" rating in a research report on Sunday, October 12th. BNP Paribas Exane raised their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. CIBC set a $112.00 price target on shares of Newmont and gave the company an "outperformer" rating in a research report on Friday, October 10th. Finally, National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.59.

Read Our Latest Stock Analysis on NEM

Insider Buying and Selling

In related news, 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 completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 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 $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,249 shares of company stock worth $1,132,065. Insiders own 0.05% of the company's stock.

Newmont Company 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

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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