ORG Partners LLC Acquires 13,633 Shares of Newmont Corporation $NEM

Key Points

• ORG Partners LLC increased its stake in Newmont Corporation by 116.0%, now owning 25,382 shares valued at $1,496,000 after acquiring an additional 13,633 shares in the second quarter.
• Newmont Corporation has received upgraded ratings from multiple analysts, with Royal Bank of Canada raising its target price from $66.00 to $95.00, reflecting strong market confidence.
• The company recently announced a quarterly dividend of $0.25 per share, representing an annualized payout of $1.00 and a yield of 1.2%, with a payout ratio of 17.95%.

ORG Partners LLC raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 116.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,382 shares of the basic materials company's stock after acquiring an additional 13,633 shares during the period. ORG Partners LLC's holdings in Newmont were worth $1,496,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake 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 in the last quarter. Northern Trust Corp lifted its stake 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 in the last quarter. Amundi lifted its stake 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 in the last quarter. Invesco Ltd. lifted its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 in the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Stifel Canada raised Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a research report on Monday. Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.38.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $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 have sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by insiders.

Newmont Stock Up 1.8%

NEM stock opened at $85.17 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $93.55 billion, a PE ratio of 15.29, a PEG ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $86.62. The business's 50 day simple moving average is $72.02 and its 200 day simple moving average is $59.72.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion for 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 firm's revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. As a group, research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont's payout ratio is presently 17.95%.

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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