J. Safra Sarasin Holding AG Grows Stock Position in Newmont Corporation $NEM

Key Points

• J. Safra Sarasin Holding AG increased its stake in Newmont Corporation by 124.3% in Q2, now owning 78,651 shares valued at $4.58 million, highlighting significant institutional interest.
• Wall Street analysts have raised their price targets for Newmont, with BNP Paribas Exane increasing their target from $66 to $92, reflecting favorable sentiment towards the company’s growth prospects.
• Newmont recently declared a $0.25 quarterly dividend, resulting in an annualized dividend yield of 1.2%, showcasing the company’s commitment to returning value to shareholders.

J. Safra Sarasin Holding AG increased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 124.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,651 shares of the basic materials company's stock after buying an additional 43,584 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Newmont were worth $4,582,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the period. NBC Securities Inc. raised its stake in shares of Newmont by 108,025.0% during the 1st quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company's stock valued at $208,000 after buying an additional 4,321 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Newmont by 107.8% in the 1st quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company's stock valued at $821,000 after buying an additional 8,817 shares during the period. RFG Advisory LLC purchased a new stake in shares of Newmont in the first quarter worth about $1,019,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Newmont by 7.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company's stock worth $785,000 after acquiring an additional 1,089 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEM. CIBC upped their price objective on Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. Scotiabank increased their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. BNP Paribas Exane raised their price target on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. Finally, Raymond James Financial raised their target price on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.38.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's 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 sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $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. In the last three months, insiders have sold 14,169 shares of company stock valued at $955,286. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NEM opened at $86.35 on Friday. The firm has a market capitalization of $94.85 billion, a PE ratio of 15.50, a PEG ratio of 0.96 and a beta of 0.34. 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 Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The firm's 50-day moving average price is $73.95 and its 200 day moving average price is $60.81.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm's quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

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