MGO One Seven LLC Increases Stock Position in Newmont Corporation $NEM

Key Points

• MGO One Seven LLC has increased its stake in Newmont Corporation by 9.2%, owning a total of 61,964 shares valued at approximately $3.61 million as of the latest SEC filing.
• Newmont recently declared a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 1.1%, with a payout ratio of 17.95%.
• Analysts have varied ratings on Newmont, with an average target price of $83.18 and a consensus rating of "Moderate Buy".

MGO One Seven LLC raised its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,964 shares of the basic materials company's stock after buying an additional 5,236 shares during the period. MGO One Seven LLC's holdings in Newmont were worth $3,610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. Cloud Capital Management LLC purchased a new stake in shares of Newmont in the 1st quarter worth about $26,000. Colonial Trust Advisors lifted its position in shares of Newmont by 315.4% in 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 period. Private Trust Co. NA lifted its position in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of Newmont in the 1st quarter worth about $32,000. Finally, TCTC Holdings LLC lifted its position in shares of Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after purchasing an additional 362 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Scotiabank raised their target price on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the stock an "outperformer" rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.18.

Newmont Stock Up 5.0%

NYSE:NEM opened at $89.36 on Tuesday. The firm has a market cap of $98.16 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.94 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. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.42. The firm has a 50-day simple moving average of $77.25 and a two-hundred day simple moving average of $62.93.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $5.32 billion during 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%. Newmont's revenue was up 20.8% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. 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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