Newmont Corporation $NEM Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its holdings in Newmont Corporation by 80.8% during the second quarter, acquiring a total of 15,964 shares now valued at $930,000.
• Newmont Corporation reported earnings of $1.43 per share, surpassing the consensus estimate by $0.48, and achieved a revenue of $5.32 billion during the last quarter.
• The company recently declared a quarterly dividend of $0.25 per share, translating to an annual yield of 1.1%, with a payout ratio of 17.95%.

Bayforest Capital Ltd increased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 80.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,964 shares of the basic materials company's stock after buying an additional 7,135 shares during the period. Bayforest Capital Ltd's holdings in Newmont were worth $930,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NEM. Cloud Capital Management LLC acquired a new position in Newmont during the 1st quarter valued at about $26,000. Colonial Trust Advisors boosted its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners boosted its stake in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 385 shares during the period. Private Trust Co. NA boosted its stake in Newmont by 122.6% during the 1st 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 during the period. Finally, Alpine Bank Wealth Management acquired a new position in Newmont during the 1st quarter valued at about $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares of the company's stock, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last ninety days. Insiders own 0.05% of the company's stock.

Newmont Price Performance

NYSE:NEM opened at $89.36 on Tuesday. The business's 50-day moving average price is $77.25 and its 200 day moving average price is $62.93. The firm has a market cap of $98.16 billion, a P/E ratio of 16.04, a PEG ratio of 0.94 and a beta of 0.34. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $89.42. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

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

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NEM shares. BNP Paribas Exane boosted their target price on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. UBS Group boosted their target price on shares of Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, Raymond James Financial set a $96.00 price target on shares of Newmont in a research note on Friday. Four analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $83.18.

Newmont 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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