Newmont Corporation (NYSE:NEM) Shares Acquired by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC increased its holdings in Newmont Corporation by 2.7%, owning 1,862,732 shares valued at approximately $89.93 million as of its latest SEC filing.
• Newmont reported a 20.8% increase in quarterly revenue year-over-year, with earnings per share of $1.43, surpassing the consensus estimate of $0.95.
• The company declared a quarterly dividend of $0.25 per share, representing a 1.5% dividend yield and a payout ratio of 17.95% as of the latest announcement.

Empower Advisory Group LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,862,732 shares of the basic materials company's stock after acquiring an additional 48,812 shares during the quarter. Empower Advisory Group LLC owned 0.17% of Newmont worth $89,933,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. lifted its holdings in Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. boosted its stake 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 acquiring an additional 201 shares in the last quarter. Rothschild Investment LLC raised its holdings in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares during the last quarter. Twin Capital Management Inc. grew its holdings in Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after purchasing an additional 254 shares during the last quarter. Finally, Prudent Man Advisors LLC boosted its position in shares of Newmont by 1.8% in the 1st quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock worth $749,000 after buying an additional 276 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont 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 $132,221.82. Following the completion of the sale, the director directly owned 41,026 shares in the company, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the 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 completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,231 shares of company stock worth $896,091. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. 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. Raymond James Financial lifted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Stock Performance

Newmont stock traded up $0.74 during mid-day trading on Wednesday, reaching $67.98. The company's stock had a trading volume of 9,550,582 shares, compared to its average volume of 12,902,739. The firm's fifty day moving average price is $58.62 and its two-hundred day moving average price is $51.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $68.44. The company has a market capitalization of $74.67 billion, a P/E ratio of 12.20, a PEG ratio of 0.82 and a beta of 0.30.

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 company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. Newmont's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is currently 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.