Newmont Corporation $NEM Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Newmont Corporation by 3.8% in Q1, owning approximately 3.16 million shares worth $152.5 million at quarter's end.
• The company reported a 20.8% year-over-year increase in revenue to $5.32 billion and an EPS of $1.43, significantly beating expectations.
• Newmont has declared a quarterly dividend of $0.25 per share, with a dividend yield of 1.5%, to be paid on September 29th.

Hsbc Holdings PLC boosted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,163,543 shares of the basic materials company's stock after purchasing an additional 117,261 shares during the period. Hsbc Holdings PLC owned about 0.28% of Newmont worth $152,499,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its holdings in Newmont by 64.0% in the 1st 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 last quarter. Cloud Capital Management LLC acquired a new position in shares of Newmont in the first quarter worth $26,000. Colonial Trust Advisors grew its stake 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 in the last quarter. Private Trust Co. NA grew its stake 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 in the last quarter. Finally, Nexus Investment Management ULC acquired a new position in shares of Newmont in the first quarter worth $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,246 shares of company stock valued at $1,373,251. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of several research reports. The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, UBS Group boosted their price target on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.58.

Newmont Price Performance

Newmont stock opened at $67.3460 on Wednesday. The stock has a market cap of $73.98 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The company has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $53.54. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $70.29. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released 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 business 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%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

About Newmont

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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