Integrated Wealth Concepts LLC Purchases 9,452 Shares of Newmont Corporation $NEM

Key Points

• Integrated Wealth Concepts LLC increased its stake in Newmont Corporation by 56.2% during the first quarter, now holding a total of 26,256 shares valued at approximately $1,268,000.
• Newmont reported earnings of $1.43 per share for the most recent quarter, significantly surpassing analysts' expectations of $0.95, and saw a 20.8% year-over-year revenue increase to $5.32 billion.
• The company also announced a quarterly dividend of $0.25 per share, set to be paid on September 29th, reflecting an annualized dividend yield of 1.3%.

Integrated Wealth Concepts LLC increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,256 shares of the basic materials company's stock after purchasing an additional 9,452 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Newmont were worth $1,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp lifted its position in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares during the period. Amundi lifted its position in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. lifted its position in Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Newmont by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company's stock worth $350,166,000 after purchasing an additional 1,331,278 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM opened at $78.48 on Thursday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $78.78. The firm has a market cap of $86.21 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.91 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The business has a fifty day moving average of $66.67 and a 200-day moving average of $56.56.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company posted $0.72 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm 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. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Newmont's dividend payout ratio (DPR) is 17.95%.

Wall Street Analyst Weigh In

Several research analysts recently commented on NEM shares. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Raymond James Financial increased their price objective on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Stifel Nicolaus initiated coverage on Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. Finally, CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has given 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 a consensus price target of $67.38.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company's stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by corporate insiders.

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.

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