Newmont Corporation $NEM Shares Purchased by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its stake in Newmont Corporation by 36.0%, now holding 11,173 shares worth approximately $651,000.
• Newmont Corporation reported a quarterly earnings per share of $1.43, significantly exceeding expectations of $0.95, and recorded revenues of $5.32 billion.
• The company's latest quarterly dividend was $0.25, resulting in an annualized dividend yield of 1.1% with a payout ratio of 17.95%.

NorthRock Partners LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 36.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,173 shares of the basic materials company's stock after purchasing an additional 2,956 shares during the period. NorthRock Partners LLC's holdings in Newmont were worth $651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its position in Newmont by 162.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,972 shares of the basic materials company's stock worth $1,338,000 after purchasing an additional 14,218 shares during the last quarter. Concord Wealth Partners increased its position in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock worth $27,000 after purchasing an additional 385 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Newmont by 20.6% during the second quarter. Sequoia Financial Advisors LLC now owns 18,606 shares of the basic materials company's stock worth $1,084,000 after purchasing an additional 3,172 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Newmont by 9.2% in the 2nd quarter. MGO One Seven LLC now owns 61,964 shares of the basic materials company's stock valued at $3,610,000 after acquiring an additional 5,236 shares during the period. Finally, Cypress Capital Group raised its stake in shares of Newmont by 6.5% in the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company's stock valued at $2,828,000 after acquiring an additional 2,959 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 1.2%

Shares of NEM stock opened at $90.51 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock has a market capitalization of $99.42 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. The company has a 50 day moving average price of $77.71 and a 200 day moving average price of $63.13. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $91.24.

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 for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The firm 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 business's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Equities research analysts predict 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 was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's dividend payout ratio is currently 17.95%.

Insider Transactions at Newmont

In related news, 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 transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,249 shares of company stock valued at $1,132,065. Insiders own 0.05% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the company a "buy" rating in a research note on Sunday. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Cibc World Mkts raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. Finally, Scotiabank boosted their price target on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.18.

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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