Newmont Corporation $NEM Shares Acquired by Ellsworth Advisors LLC

Key Points

• Ellsworth Advisors LLC has increased its holdings in Newmont Corporation, acquiring an additional 4,194 shares for a total of 21,399 shares valued at approximately $1,033,000.
• Numerous institutional investors, including Acadian Asset Management LLC and Bayforest Capital Ltd, have significantly increased their stakes in Newmont during the first quarter, reflecting growing institutional interest.
• Newmont recently announced a quarterly dividend of $0.25 per share, which will be paid to stockholders of record, resulting in an annualized dividend yield of 1.3%.

Ellsworth Advisors LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,399 shares of the basic materials company's stock after purchasing an additional 4,194 shares during the quarter. Ellsworth Advisors LLC's holdings in Newmont were worth $1,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of Newmont by 177.3% during the first quarter. Acadian Asset Management LLC now owns 55,742 shares of the basic materials company's stock worth $2,690,000 after purchasing an additional 35,643 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Newmont by 7.6% during the first quarter. Intech Investment Management LLC now owns 49,989 shares of the basic materials company's stock worth $2,413,000 after purchasing an additional 3,512 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of Newmont during the first quarter worth about $244,000. Bayforest Capital Ltd lifted its holdings in shares of Newmont by 269.4% during the first quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock worth $426,000 after purchasing an additional 6,439 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after purchasing an additional 27,813 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NEM shares. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Macquarie downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Scotiabank lifted their target price on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Stifel Nicolaus assumed coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. Finally, BNP Paribas cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.38.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director directly owned 38,949 shares in the company, valued at $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock worth $1,253,559 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 3.4%

Shares of NEM stock opened at $78.48 on Thursday. The stock has a 50 day moving average of $66.67 and a 200 day moving average of $56.56. 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 market cap of $86.21 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.91 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $78.78.

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 for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Newmont's payout ratio is 17.95%.

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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