Newmont Corporation $NEM Shares Purchased by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC increased its holdings in Newmont Corporation by 23.4% in the first quarter, owning a total of 52,403 shares valued at $2,530,000.
• Multiple hedge funds have adjusted their positions in Newmont, with Securities analysts maintaining a consensus rating of Moderate Buy and an average price target of $67.38 for the stock.
• Newmont recently declared a quarterly dividend of $0.25 per share, reflecting a 1.3% dividend yield and a payout ratio of 17.95%.

Great Lakes Advisors LLC lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 23.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,403 shares of the basic materials company's stock after acquiring an additional 9,936 shares during the period. Great Lakes Advisors LLC's holdings in Newmont were worth $2,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Hemington Wealth Management boosted its position in Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after purchasing an additional 194 shares during the period. Ipswich Investment Management Co. Inc. lifted its position in shares of Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake 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 valued at $25,000 after purchasing an additional 201 shares during the period. Rothschild Investment LLC boosted its stake in shares of Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the period. Finally, Twin Capital Management Inc. grew its holdings in Newmont by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, 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 transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the transaction, the director owned 38,949 shares of the company's stock, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 in the last quarter. Insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank boosted their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. BNP Paribas lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 target price on shares of Newmont in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $66.00 to $95.00 in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.38.

Newmont Price Performance

Shares of NEM opened at $78.48 on Thursday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $78.78. 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 firm 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. The stock has a 50 day moving average of $66.67 and a 200-day moving average of $56.56.

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, topping 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 return on equity of 17.86% and a net margin of 30.50%.The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont's payout ratio is 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.

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