Euro Pacific Asset Management LLC Has $26.78 Million Holdings in Newmont Corporation $NEM

Key Points

• Euro Pacific Asset Management LLC increased its holdings in Newmont Corporation by 19.4% during the second quarter, owning 459,651 shares valued at approximately $26.78 million.
• Newmont has received positive ratings from several analysts, with National Bank Financial upgrading it to a "strong-buy" and a price target lift from $66.00 to $92.00 by BNP Paribas Exane.
• The company recently announced a quarterly dividend of $0.25 per share, resulting in a 1.2% yield and maintaining a dividend payout ratio of 17.95%.

Euro Pacific Asset Management LLC boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 19.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 459,651 shares of the basic materials company's stock after acquiring an additional 74,843 shares during the quarter. Newmont accounts for 4.4% of Euro Pacific Asset Management LLC's portfolio, making the stock its 7th biggest holding. Euro Pacific Asset Management LLC's holdings in Newmont were worth $26,779,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. grew 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 valued at $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors grew its position 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 valued at $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA grew its position 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 valued at $30,000 after acquiring an additional 347 shares during the period. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Newmont in the 1st quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on NEM shares. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. BNP Paribas Exane lifted their price objective on Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Newmont in a research note on Saturday, September 27th. Raymond James Financial raised their target price on shares of Newmont from $77.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have given 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, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $74.18.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares in the company, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 0.5%

Shares of NEM opened at $86.86 on Monday. The business's 50 day moving average is $74.37 and its 200 day moving average is $61.27. The company has a market capitalization of $95.41 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $87.93. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is presently 17.95%.

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.

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.