Newmont Corporation $NEM Shares Sold by Koa Wealth Management LLC

Key Points

• Koa Wealth Management LLC has reduced its stake in Newmont Corporation by 16.7%, owning 42,420 shares following the sale of 8,484 shares in the second quarter.
• The company recently reported $1.43 earnings per share for its latest quarter, significantly exceeding analyst estimates of $0.95, with a 20.8% increase in quarterly revenue compared to the previous year.
• Newmont declared a quarterly dividend of $0.25, representing an annualized yield of 1.0% and a payout ratio of 17.95%.

Koa Wealth Management LLC reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 16.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,420 shares of the basic materials company's stock after selling 8,484 shares during the period. Newmont accounts for about 2.0% of Koa Wealth Management LLC's holdings, making the stock its 17th biggest position. Koa Wealth Management LLC's holdings in Newmont were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in Newmont in the 1st quarter valued at about $306,507,000. Pacer Advisors Inc. raised its stake in Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company's stock valued at $273,391,000 after buying an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Newmont by 1,074.8% in the first 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 buying an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company's stock valued at $92,119,000 after buying an additional 1,506,010 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company's stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business'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 transaction, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company's stock.

Newmont Stock Up 5.0%

NEM stock opened at $98.22 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The company has a 50 day moving average of $78.81 and a two-hundred day moving average of $63.68. The company has a market cap of $107.89 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.02 and a beta of 0.34.

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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.72 earnings per share. Newmont's quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont's payout ratio is presently 17.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEM shares. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Macquarie downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.59.

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.

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