Lbp Am Sa Acquires 299,825 Shares of Newmont Corporation $NEM

Key Points

• Lbp Am Sa significantly increased its stake in Newmont Corporation by 390.3% during the second quarter, acquiring an additional 299,825 shares.
• As of the latest reporting period, Newmont holds a market cap of $92.59 billion and posted a quarterly EPS of $1.43, surpassing analysts' expectations.
• Newmont recently declared a quarterly dividend of $0.25 per share, yielding about 1.2%, with a payout ratio of 17.95%.

Lbp Am Sa increased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 390.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,641 shares of the basic materials company's stock after purchasing an additional 299,825 shares during the period. Lbp Am Sa's holdings in Newmont were worth $21,943,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. boosted its holdings in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter valued at about $26,000. Colonial Trust Advisors boosted its holdings in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA boosted its holdings in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in Newmont during the first quarter valued at about $32,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NEM shares. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Three investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.38.

Newmont Stock Down 0.3%

Shares of NEM opened at $84.29 on Wednesday. The stock has a market cap of $92.59 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.98 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $87.93. The company has a 50-day moving average price of $72.97 and a two-hundred day moving average price of $60.37.

Newmont (NYSE:NEM - Get Free Report) last announced 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. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid 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 yield of 1.2%. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm'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 transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock worth $955,286 over the last quarter. Company 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.

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