Laidlaw Wealth Management LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• Laidlaw Wealth Management LLC has invested $310,000 in Newmont Corporation, securing a 0.9% position in its portfolio with 6,414 shares.
• Newmont reported strong earnings, with $1.43 earnings per share, exceeding estimates and showing a 20.8% year-over-year revenue growth.
• The company will pay a quarterly dividend of $0.25 per share on September 29th, reflecting an annualized yield of 1.3%.

Laidlaw Wealth Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,414 shares of the basic materials company's stock, valued at approximately $310,000. Newmont comprises 0.9% of Laidlaw Wealth Management LLC's investment portfolio, making the stock its 27th biggest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares during the last quarter. Ethic Inc. purchased a new stake in Newmont during the fourth quarter valued at about $495,000. Gotham Asset Management LLC lifted its stake in Newmont by 145.4% during the fourth quarter. Gotham Asset Management LLC now owns 339,542 shares of the basic materials company's stock worth $12,638,000 after purchasing an additional 201,180 shares during the last quarter. LRI Investments LLC lifted its stake in Newmont by 24.2% during the fourth quarter. LRI Investments LLC now owns 5,381 shares of the basic materials company's stock worth $200,000 after purchasing an additional 1,050 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Newmont by 20.5% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 48,200 shares of the basic materials company's stock worth $1,794,000 after purchasing an additional 8,195 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Finally, Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $65.15.

Newmont Trading Up 0.3%

NYSE:NEM traded up $0.21 during midday trading on Tuesday, reaching $75.96. 10,445,168 shares of the stock traded hands, compared to its average volume of 8,021,443. The stock has a market capitalization of $83.44 billion, a P/E ratio of 13.64, a PEG 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 company has a fifty day moving average of $66.30 and a 200 day moving average of $56.41. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $77.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. On average, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is currently 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the transaction, the director directly owned 38,949 shares in the company, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock valued at $1,253,559 in the last 90 days. Insiders own 0.05% of the company's stock.

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.