Aptus Capital Advisors LLC Acquires 137,293 Shares of Newmont Corporation $NEM

Key Points

• Aptus Capital Advisors LLC significantly increased its stake in Newmont Corporation by 1,090.3%, owning 149,885 shares valued at $7.24 million at the end of the last quarter.
• Newmont recently reported $1.43 EPS for the last quarter, surpassing analysts' expectations by $0.48, along with a revenue of $5.32 billion, up 20.8% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, yielding 1.4%, payable on September 29th to shareholders on record as of September 4th.

Aptus Capital Advisors LLC grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 1,090.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 149,885 shares of the basic materials company's stock after purchasing an additional 137,293 shares during the period. Aptus Capital Advisors LLC's holdings in Newmont were worth $7,236,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Nuveen LLC purchased a new position in shares of Newmont in the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. boosted its position in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Newmont in the 4th quarter valued at $92,693,000. Capital Research Global Investors grew its stake in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after purchasing an additional 2,338,953 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Newmont during the 4th quarter valued at $75,435,000. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the transaction, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,246 shares of company stock valued at $1,373,251. 0.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NEM shares. Royal Bank Of Canada raised their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group raised their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. CIBC set a $74.00 target price on Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a research note on Tuesday, July 8th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Stock Performance

NEM stock traded up $0.5710 during midday trading on Friday, reaching $70.6610. 6,575,987 shares of the company's stock traded hands, compared to its average volume of 11,801,996. The company has a 50-day moving average price of $62.21 and a two-hundred day moving average price of $53.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $71.10. The firm has a market capitalization of $77.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. Newmont's payout ratio is presently 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.