Newmont Corporation $NEM Shares Bought by Birmingham Capital Management Co. Inc. AL

Key Points

• Birmingham Capital Management Co. Inc. AL increased its stake in Newmont Corporation by 53.4% in Q1, now holding 10,050 shares valued at $485,000.
• Newmont reported a Q2 earnings per share of $1.43, exceeding estimates of $0.95, with revenue reaching $5.32 billion, up 20.8% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.3%, scheduled for payment on September 29th.

Birmingham Capital Management Co. Inc. AL boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 53.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,050 shares of the basic materials company's stock after purchasing an additional 3,500 shares during the period. Birmingham Capital Management Co. Inc. AL's holdings in Newmont were worth $485,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SOA Wealth Advisors LLC. raised its position in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Newmont in the first quarter worth about $26,000. Colonial Trust Advisors raised its position in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA raised its position in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new position in shares of Newmont in the first quarter worth about $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Up 3.4%

Shares of NEM stock opened at $78.48 on Thursday. The company's 50-day moving average price is $66.67 and its 200-day moving average price is $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 price-to-earnings ratio of 14.09, a PEG 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 firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $66.00 to $95.00 in a research report on Wednesday. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target for the company. Finally, Scotiabank upped their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.38.

Newmont Company 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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