Newmont Corporation $NEM Holdings Decreased by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services LLC reduced its Newmont stake by 68.9% in the second quarter, selling 19,886 shares and retaining 8,967 shares valued at approximately $837,000. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $132.11, despite several firms lowering their targets.
• Newmont reported quarterly EPS of $2.10, exceeding estimates, and declared a quarterly dividend of $0.26 per share, equivalent to an annualized $1.04 dividend and a 0.8% yield.

Ameritas Advisory Services LLC trimmed its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 68.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,967 shares of the basic materials company's stock after selling 19,886 shares during the quarter. Ameritas Advisory Services LLC's holdings in Newmont were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Newmont by 15.7% in the 4th 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. Woodline Partners LP lifted its position in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock valued at $4,644,000 after acquiring an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the 2nd quarter worth $240,000. Cerity Partners LLC grew its holdings in shares of Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after acquiring an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after acquiring an additional 3,856 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. Bank of America reduced their target price on Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Citigroup cut their price objective on Newmont from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Argus set a $110.00 target price on shares of Newmont in a report on Monday, August 3rd. Barclays dropped their target price on shares of Newmont from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

Newmont Stock Performance

NEM stock opened at $126.84 on Friday. The firm has a 50 day moving average of $110.42 and a two-hundred day moving average of $109.84. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The company has a market capitalization of $133.65 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.78 and a beta of 0.52. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the firm earned $1.43 EPS. As a group, equities analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont's dividend payout ratio is currently 13.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00. Following the transaction, the executive vice president owned 37,315 shares in the company, valued at $4,589,745. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 32,091 shares of company stock valued at $3,414,187. Corporate insiders own 0.06% of the company's stock.

About Newmont

Newmont Corporation NYSE: NEM is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.