Inspire Investing LLC Has $10.39 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Inspire Investing LLC increased its holdings in Newmont Corporation by 62.6%, owning 178,355 shares valued at approximately $10.39 million as of the last quarter.
• Newmont reported a quarterly EPS of $1.43, exceeding analysts' expectations, with a revenue of $5.32 billion—up 20.8% from the previous year.
• The company also declared a quarterly dividend of $0.25 per share, yielding an annualized dividend of 1.2% with a payout ratio of 17.95%.

Inspire Investing LLC grew its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 62.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,355 shares of the basic materials company's stock after purchasing an additional 68,639 shares during the quarter. Newmont comprises about 1.1% of Inspire Investing LLC's portfolio, making the stock its 11th biggest position. Inspire Investing LLC's holdings in Newmont were worth $10,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Cloud Capital Management LLC acquired a new position in shares of Newmont in the 1st quarter valued at about $26,000. Colonial Trust Advisors increased its holdings in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA increased its holdings in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Newmont during the 1st quarter worth approximately $32,000. Finally, TCTC Holdings LLC increased its holdings in Newmont by 123.1% during the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after purchasing an additional 362 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $85.07 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The business's 50 day moving average price is $76.77 and its 200-day moving average price is $62.44. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $89.37. The stock has a market cap of $93.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.95 and a beta of 0.34.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont's payout ratio is presently 17.95%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company's stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 in the last 90 days. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of several research reports. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective on the stock. CIBC set a $112.00 price objective on Newmont and gave the company an "outperformer" rating in a research note on Friday. Finally, BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.10.

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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