Mather Group LLC. Raises Holdings in Newmont Corporation $NEM

Key Points

• Mather Group LLC increased its holdings in Newmont Corporation (NYSE:NEM) by 18.3%, owning 54,363 shares worth approximately $3.17 million after acquiring an additional 8,396 shares in the second quarter.
• Newmont Corporation reported earnings of $1.43 per share for the latest quarter, significantly surpassing analysts' expectations, and its revenue grew 20.8% year-over-year to $5.32 billion.
• The company also recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.2%, with payout scheduled for September 29th.

Mather Group LLC. raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 18.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,363 shares of the basic materials company's stock after purchasing an additional 8,396 shares during the period. Mather Group LLC.'s holdings in Newmont were worth $3,167,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SOA Wealth Advisors LLC. boosted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Newmont in the 1st quarter worth approximately $26,000. Colonial Trust Advisors boosted its holdings in shares of 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 during the last quarter. Financial Management Professionals Inc. grew its position in shares of Newmont by 274.1% in the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 444 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. CIBC upped their price objective on shares of Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $73.38.

Newmont Stock Performance

Shares of NEM stock opened at $83.45 on Thursday. 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 firm has a market cap of $91.66 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.98 and a beta of 0.34. The firm's 50 day moving average price is $70.97 and its 200-day moving average price is $59.15. Newmont Corporation has a one year low of $36.86 and a one year high of $86.62.

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 (EPS) 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 for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced 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 1.2%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred 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 transaction, the director 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 in the last three months. 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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