Newmont Corporation $NEM Shares Bought by Cypress Capital Group

Key Points

• Cypress Capital Group increased its stake in Newmont Corporation by 6.5%, owning 48,549 shares valued at approximately $2.83 million.
• Newmont reported a quarterly EPS of $1.43, significantly beating the consensus estimate of $0.95, and achieved a revenue of $5.32 billion.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 1.2% with a payout ratio of 17.95%.

Cypress Capital Group grew its stake in Newmont Corporation (NYSE:NEM - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,549 shares of the basic materials company's stock after purchasing an additional 2,959 shares during the period. Cypress Capital Group's holdings in Newmont were worth $2,828,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in Newmont during the first quarter worth $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 boosted its stake in shares of Newmont by 122.6% during the 1st 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 in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Newmont during the 1st quarter valued at about $32,000. Finally, TCTC Holdings LLC increased its stake in shares of Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 362 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $85.07 on Monday. The firm has a 50-day simple moving average of $76.77 and a 200-day simple moving average of $62.65. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth 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 $89.37.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) 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 net margin of 30.50% and a return on equity of 17.86%. Newmont's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus began coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group set a $104.30 price target on shares of Newmont in a report on Sunday. Raymond James Financial set a $96.00 price objective on shares of Newmont in a research report on Friday. Finally, Scotiabank lifted their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.18.

Insider Buying and Selling

In other news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

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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