Newmont Corporation $NEM Shares Purchased by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its investment in Newmont Corporation by 252.6%, acquiring a total of 22,132 shares valued at approximately $1.29 million.
• Several large institutional investors, including Bank of New York Mellon Corp and Northern Trust Corp, have also increased their stakes in Newmont, indicating strong investor confidence with 68.85% of the company's stock being owned by institutional investors.
• Newmont recently announced a quarterly dividend of $0.25 per share, representing a yield of 1.2%, and reported strong earnings for the last quarter, surpassing analyst estimates.

Callan Family Office LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 252.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,132 shares of the basic materials company's stock after purchasing an additional 15,856 shares during the period. Callan Family Office LLC's holdings in Newmont were worth $1,289,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after acquiring an additional 1,306,783 shares in the last quarter. Northern Trust Corp boosted its stake in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock valued at $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi boosted its stake in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock valued at $611,187,000 after acquiring an additional 343,535 shares in the last quarter. Invesco Ltd. boosted its stake in Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock valued at $518,936,000 after acquiring an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock valued at $423,572,000 after acquiring an additional 1,201,237 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEM. TD Securities upped their target price on shares of Newmont from $67.00 to $89.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. Cibc World Mkts raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. Finally, UBS Group increased their price target on shares of Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.18.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the 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 completion of the sale, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by company insiders.

Newmont Trading Down 0.2%

NYSE NEM opened at $85.07 on Monday. The stock has a market capitalization of $93.45 billion, a P/E ratio of 15.27, a P/E/G 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. The firm has a 50-day moving average price of $76.77 and a 200 day moving average price 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.

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 for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

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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