Newmont Corporation $NEM Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Newmont Corporation by 49.9%, acquiring a total of 1,347,972 shares valued at approximately $65 million.
• Several institutional investors have also significantly boosted their holdings in Newmont, contributing to 68.85% of the company's stock being owned by hedge funds and other institutions.
• Newmont's recent quarterly earnings report beat expectations with an EPS of $1.43 and a revenue increase of 20.8% year-over-year, alongside the declaration of a quarterly dividend of $0.25 per share.

Ameriprise Financial Inc. lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 49.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,347,972 shares of the basic materials company's stock after buying an additional 448,684 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of Newmont worth $65,061,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. raised its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC purchased a new stake in Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors boosted its position in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after buying an additional 429 shares during the last quarter. Private Trust Co. NA grew its stake in shares of 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 acquiring an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC purchased a new stake in shares of Newmont during the first quarter worth about $31,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the sale, the director owned 41,026 shares of the company's stock, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,246 shares of company stock worth $1,373,251. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. UBS Group raised their price objective on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. CIBC set a $74.00 target price on Newmont and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Finally, Raymond James Financial raised their price objective on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Newmont Stock Up 2.0%

NYSE:NEM opened at $72.49 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. The stock has a 50 day moving average of $63.00 and a 200-day moving average of $54.46. The firm has a market capitalization of $79.63 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $72.79.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Newmont's payout ratio is 17.95%.

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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