CreativeOne Wealth LLC Decreases Stake in Newmont Corporation $NEM

Key Points

• CreativeOne Wealth LLC decreased its stake in Newmont Corporation by 54.4%, holding 5,111 shares valued at approximately $247,000 after selling 6,103 shares during the first quarter.
• Several institutional investors, including Brighton Jones LLC and Lido Advisors LLC, increased their positions in Newmont, reflecting a diverse range of investment strategies.
• Newmont announced a quarterly dividend of $0.25 per share, representing a payout ratio of 17.95%, with dividends payable to shareholders on September 29th.

CreativeOne Wealth LLC lowered its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 54.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,111 shares of the basic materials company's stock after selling 6,103 shares during the quarter. CreativeOne Wealth LLC's holdings in Newmont were worth $247,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Nuveen LLC bought a new position in shares of Newmont during the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. raised its stake in shares of Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock worth $259,580,000 after acquiring an additional 5,251,616 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Newmont during the 4th quarter worth approximately $92,693,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after purchasing an additional 2,206,017 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Newmont during the 4th quarter valued at approximately $75,435,000. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM stock traded up $1.26 during trading hours on Friday, hitting $76.14. The company's stock had a trading volume of 8,676,401 shares, compared to its average volume of 7,931,247. The company has a 50 day moving average of $65.61 and a 200 day moving average of $55.94. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $77.30. The stock has a market cap of $83.64 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.34. 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 announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Newmont's dividend payout ratio is currently 17.95%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company's stock, valued at $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,246 shares of company stock worth $1,253,559. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. UBS Group upped their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Macquarie lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $65.15.

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.