Nelson Capital Management LLC Invests $230,000 in Newmont Corporation $NEM

Key Points

• Nelson Capital Management LLC has invested $230,000 in Newmont Corporation by acquiring 3,949 shares in Q2, indicating growing interest in the basic materials sector.
• Newmont's recent quarterly earnings exceeded analysts' expectations with earnings per share of $1.43, up from $0.72 year-over-year, and revenue of $5.32 billion.
• The company recently announced a quarterly dividend of $0.25 per share, representing an annual yield of 1.1%, with a payout ratio of 17.95%.

Nelson Capital Management LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,949 shares of the basic materials company's stock, valued at approximately $230,000.

Several other hedge funds have also added to or reduced their stakes in NEM. Brighton Jones LLC lifted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Newmont by 28.9% in the 1st quarter. Wedmont Private Capital now owns 11,613 shares of the basic materials company's stock valued at $561,000 after acquiring an additional 2,602 shares during the last quarter. UMB Bank n.a. lifted its position in Newmont by 36.9% in the first quarter. UMB Bank n.a. now owns 4,540 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 1,223 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Newmont in the first quarter valued at approximately $1,132,000. Finally, CHICAGO TRUST Co NA lifted its position in Newmont by 20.3% in the first quarter. CHICAGO TRUST Co NA now owns 6,519 shares of the basic materials company's stock valued at $315,000 after purchasing an additional 1,098 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock valued at $1,132,065. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Down 1.7%

Shares of NYSE NEM opened at $87.03 on Wednesday. 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 12 month low of $36.86 and a 12 month high of $89.37. The firm has a market capitalization of $95.59 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. The firm has a fifty day simple moving average of $75.33 and a two-hundred day simple moving average of $61.73.

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

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont's dividend payout ratio is currently 17.95%.

Analysts Set New Price Targets

A number of research firms recently commented on NEM. National Bankshares reiterated an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Newmont in a report on Saturday, September 27th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Three equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.18.

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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