Newmont Corporation $NEM Shares Purchased by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC increased its holdings in Newmont Corporation by 198.4% in Q2, owning 12,170 shares valued at $709,000 after acquiring an additional 8,091 shares.
• Analyst target prices for Newmont have seen significant upward revisions, with UBS setting a new target of $92.00 while maintaining a "buy" rating.
• Newmont announced a quarterly dividend of $0.25 per share, representing a 1.2% dividend yield, with a current payout ratio of 17.95%.

TD Private Client Wealth LLC boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 198.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,170 shares of the basic materials company's stock after acquiring an additional 8,091 shares during the quarter. TD Private Client Wealth LLC's holdings in Newmont were worth $709,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Newmont by 8.9% in the 1st 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 during the period. Northern Trust Corp increased its position in Newmont by 1.5% in the 1st 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 during the period. Amundi increased its position in Newmont by 2.8% in the 1st 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 during the period. Invesco Ltd. increased its position in Newmont by 2.2% in the 1st 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 during the period. Finally, Dimensional Fund Advisors LP increased its position in Newmont by 15.9% in the 1st 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 during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. CIBC raised their target price on Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. UBS Group lifted their price target on Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a research report on Friday, September 19th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Zacks Research cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Raymond James Financial lifted their price target on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.38.

Newmont Stock Performance

NEM opened at $85.17 on Friday. The firm has a market cap of $93.55 billion, a PE ratio of 15.29, a P/E/G ratio of 0.97 and a beta of 0.34. 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 business has a fifty day simple moving average of $72.02 and a 200-day simple moving average of $59.72. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $86.62.

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 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 analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company's revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was 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 $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was 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 approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. 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 three months. 0.05% of the stock is currently owned by corporate insiders.

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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