Phoenix Financial Ltd. Has $943,000 Stake in Newmont Corporation $NEM

Key Points

• Phoenix Financial Ltd. increased its stake in Newmont Corporation by 40.4%, owning 16,199 shares valued at $943,000.
• Institutional investors currently hold 68.85% of Newmont’s stock, indicating strong institutional interest.
• Newmont announced a quarterly dividend of $0.25, translating to an annualized yield of 1.2%.

Phoenix Financial Ltd. boosted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 40.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,199 shares of the basic materials company's stock after purchasing an additional 4,661 shares during the period. Phoenix Financial Ltd.'s holdings in Newmont were worth $943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the 1st quarter valued at $26,000. Colonial Trust Advisors increased its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners increased its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC increased its stake in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company's stock valued at $29,000 after buying an additional 400 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the subject of several research reports. Scotiabank lifted their target price on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada raised Newmont from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Finally, TD Securities lifted their price objective on Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.59.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares of the company's stock, 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 ninety days, insiders sold 16,249 shares of company stock valued at $1,132,065. Company insiders own 0.05% of the company's stock.

Newmont Stock Down 9.1%

Shares of Newmont stock opened at $86.26 on Wednesday. The business has a fifty day simple moving average of $80.11 and a 200 day simple moving average of $64.69. 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 stock has a market cap of $94.75 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.65 and a beta of 0.34. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. Research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

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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