Dakota Wealth Management Purchases 155,883 Shares of Newmont Corporation $NEM

Key Points

• Dakota Wealth Management increased its holdings in Newmont Corporation by 180.7%, acquiring an additional 155,883 shares, bringing its total ownership to 242,143 shares valued at approximately $14.1 million.
• Institutional investors collectively own 68.85% of Newmont’s stock, with various funds significantly increasing their positions in recent quarters.
• Newmont recently announced a quarterly dividend of $0.25 per share, yielding 1.2%, contributing to a 17.95% dividend payout ratio.

Dakota Wealth Management increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 180.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 242,143 shares of the basic materials company's stock after acquiring an additional 155,883 shares during the period. Dakota Wealth Management's holdings in Newmont were worth $14,107,000 at the end of the most recent reporting period.

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

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares of the company's stock, valued at $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president directly 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. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on NEM shares. Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Scotiabank upped their target price on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial upped their target price on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.38.

Newmont Stock Performance

Shares of Newmont stock opened at $83.45 on Thursday. The company has a market cap of $91.66 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.34. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $86.62. The business has a 50 day moving average price of $70.97 and a 200-day moving average price of $59.15. 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 issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.72 earnings per share. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.