Ewa LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• Ewa LLC has made a new investment in Newmont Corporation by acquiring 5,144 shares valued at approximately $300,000 in the 2nd quarter.
• Multiple institutional investors have increased their stakes in Newmont; for instance, Generate Investment Management Ltd raised its stake by 25.9%, now holding shares worth over $22 million.
• Analysts have mixed opinions on Newmont's stock, with three giving it a Strong Buy rating, while others have adjusted ratings, resulting in a consensus rating of Moderate Buy and a target price of $73.38.

Ewa LLC bought a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,144 shares of the basic materials company's stock, valued at approximately $300,000.

Other institutional investors also recently made changes to their positions in the company. Generate Investment Management Ltd grew its stake in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock valued at $22,079,000 after buying an additional 77,865 shares during the period. Bessemer Group Inc. grew its stake in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after buying an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Newmont during the 1st quarter valued at $423,000. Spire Wealth Management grew its stake in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after buying an additional 1,309 shares during the period. Finally, Bayforest Capital Ltd grew its stake in shares of Newmont by 269.4% during the 1st quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock valued at $426,000 after buying an additional 6,439 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NEM shares. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. UBS Group upped their price target on shares of Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Three 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 assigned a Sell rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $73.38.

Newmont Stock Performance

Shares of NEM stock opened at $85.95 on Thursday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $87.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market capitalization of $94.41 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.94 and a beta of 0.34. The company's fifty day moving average price is $73.46 and its two-hundred day moving average price is $60.55.

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 analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm's revenue was up 20.8% compared to the same quarter last year. On average, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders 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 1.2%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio is 17.95%.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the company'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 sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were 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 in the company, 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. In the last 90 days, insiders have sold 14,169 shares of company stock worth $955,286. 0.05% of the stock is currently owned by corporate insiders.

About Newmont

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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