Park Avenue Securities LLC Has $3.08 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Park Avenue Securities LLC increased its holdings in Newmont Corporation by 125.1% during the second quarter, bringing its total shares to 52,779, valued at approximately $3.08 million.
• Insider transactions included Director Bruce R. Brook selling 2,077 shares and EVP Peter Toth selling 3,000 shares, representing decreases of 5.06% and 4.86% in their ownership, respectively.
• Newmont recently declared a $0.25 per share quarterly dividend, reflecting an annualized dividend of $1.00 with a yield of 1.2% based on current share prices.

Park Avenue Securities LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 125.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,779 shares of the basic materials company's stock after buying an additional 29,329 shares during the quarter. Park Avenue Securities LLC's holdings in Newmont were worth $3,075,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its position in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter valued at $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA raised its holdings in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC acquired a new position in Newmont during the first quarter worth $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's 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 in the company, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,246 shares of company stock worth $1,253,559. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NEM shares. National Bankshares reiterated an "outperform" rating on shares of Newmont in a report on Monday. 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 note on Tuesday. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Macquarie lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average price target of $73.38.

Newmont Price Performance

Newmont stock opened at $84.59 on Wednesday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $86.62. The company's 50 day moving average price is $70.47 and its two-hundred day moving average price is $58.98. The stock has a market cap of $92.91 billion, a P/E ratio of 15.19, 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.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.During the same period last year, the business posted $0.72 earnings per share. Newmont's revenue was up 20.8% on a year-over-year basis. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 annualized dividend and a yield of 1.2%. Newmont's dividend 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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