Newmont Corporation $NEM is Euro Pacific Asset Management LLC's 8th Largest Position

Key Points

• Euro Pacific Asset Management LLC increased its stake in Newmont Corporation by 19.4%, making it the company's 8th largest position, with holdings worth approximately $26.8 million.
• Insider trading activity was noted, with CAO Brian Tabolt selling 7,015 shares, indicating a 17.7% decrease in ownership, while EVP Peter Toth also sold shares, reflecting overall declining insider ownership.
• Analyst ratings have been positive, with target prices raised by firms like Raymond James and Royal Bank of Canada, suggesting a consensus rating of "Moderate Buy" and an average target price of $74.18.

Euro Pacific Asset Management LLC lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 19.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,651 shares of the basic materials company's stock after buying an additional 74,843 shares during the period. Newmont comprises approximately 4.3% of Euro Pacific Asset Management LLC's portfolio, making the stock its 8th biggest position. Euro Pacific Asset Management LLC's holdings in Newmont were worth $26,785,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in Newmont by 64.0% during the 1st 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 period. Cloud Capital Management LLC purchased a new stake in shares of Newmont in the first quarter worth approximately $26,000. Colonial Trust Advisors boosted its holdings in shares of Newmont by 315.4% during the first 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 grew its position 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 purchasing an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in Newmont in the 1st quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value 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. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on 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. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. Raymond James Financial lifted their target price on shares of Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Stifel Canada raised Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada raised Newmont from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. The Goldman Sachs Group raised their price target on Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Finally, UBS Group boosted their price target on Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $74.18.

Newmont Price Performance

NYSE NEM opened at $88.60 on Tuesday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37. The stock's 50-day moving average is $74.87 and its two-hundred day moving average is $61.56. The firm has a market cap of $97.32 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 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 business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 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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