Newmont Corporation $NEM Shares Bought by Arete Wealth Advisors LLC

Key Points

• Arete Wealth Advisors increased its Newmont stake by 88.7% in the first quarter, bringing its holdings to 44,567 shares worth approximately $4.8 million. Institutional investors and hedge funds collectively own 68.85% of the company.
• Analysts maintain a generally positive view, with Newmont receiving a consensus “Moderate Buy” rating and an average price target of $132.83, despite several recent target-price reductions.
• Newmont reported quarterly EPS of $2.10, slightly above expectations, while revenue of $6.12 billion fell short of forecasts. The company also declared a quarterly dividend of $0.26 per share, representing a 1.1% annualized yield.

Arete Wealth Advisors LLC raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 88.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,567 shares of the basic materials company's stock after buying an additional 20,955 shares during the quarter. Arete Wealth Advisors LLC's holdings in Newmont were worth $4,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Opal Capital LLC acquired a new stake in shares of Newmont during the first quarter worth about $736,000. Amundi increased its position in Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company's stock valued at $950,519,000 after acquiring an additional 372,415 shares during the period. Parvin Asset Management LLC increased its position in Newmont by 1.4% in the 1st quarter. Parvin Asset Management LLC now owns 39,385 shares of the basic materials company's stock valued at $4,263,000 after acquiring an additional 555 shares during the period. EverSource Wealth Advisors LLC raised its stake in Newmont by 13.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 13,928 shares of the basic materials company's stock valued at $1,508,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Recurrent Investment Advisors LLC raised its stake in Newmont by 2.6% during the 1st quarter. Recurrent Investment Advisors LLC now owns 97,245 shares of the basic materials company's stock valued at $10,527,000 after acquiring an additional 2,500 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEM. TD upgraded Newmont from a "hold" rating to a "buy" rating and lowered their target price for the company from $129.00 to $127.00 in a research note on Tuesday, July 14th. BNP Paribas Exane cut their price target on Newmont from $111.00 to $102.00 and set a "neutral" rating for the company in a research note on Tuesday, July 21st. Argus increased their price target on Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Barclays lowered their price objective on shares of Newmont from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, National Bank Financial dropped their price objective on shares of Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average price target of $132.83.

Newmont Stock Down 2.1%

Newmont stock opened at $91.54 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a 1-year low of $61.76 and a 1-year high of $134.88. The company has a market cap of $96.45 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.46. The stock's 50 day moving average price is $99.34 and its 200 day moving average price is $109.76.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 8.92 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's dividend payout ratio is 13.13%.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company's stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company's stock.

About Newmont

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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