RFG Advisory LLC Increases Stock Holdings in Newmont Corporation $NEM

Key Points

• RFG Advisory LLC increased its stake in Newmont Corporation by 20.7%, now owning 25,494 shares valued at approximately $1.485 million.
• Over 68% of Newmont's stock is held by institutional investors and hedge funds, with notable increases from firms like Knights of Columbus and Generate Investment Management.
• Newmont has announced a quarterly dividend of $0.25, reflecting a 1.1% dividend yield with a payout ratio of 17.95%.

RFG Advisory LLC boosted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 20.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,494 shares of the basic materials company's stock after purchasing an additional 4,379 shares during the quarter. RFG Advisory LLC's holdings in Newmont were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its stake in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company's stock valued at $912,000 after purchasing an additional 5,848 shares in the last quarter. Generate Investment Management Ltd raised its stake in Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock valued at $22,079,000 after purchasing an additional 77,865 shares in the last quarter. Bessemer Group Inc. raised its stake in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Newmont in the first quarter valued at approximately $423,000. Finally, Spire Wealth Management raised its stake in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 1,309 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was 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 of the company's stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank increased their price target on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. TD Securities increased their price target on shares of Newmont from $67.00 to $89.00 and gave the company a "hold" rating in a research report on Wednesday, October 8th. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research report on Monday, September 22nd. Finally, UBS Group increased their price target on shares of Newmont from $70.00 to $92.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $84.66.

Newmont Stock Up 3.3%

Shares of Newmont stock opened at $93.49 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $93.93. The stock has a market capitalization of $102.70 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 0.99 and a beta of 0.34. The company's 50 day moving average price is $78.22 and its 200-day moving average price is $63.33.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results 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 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 analysts' expectations of $4.70 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business's revenue was up 20.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont's dividend payout ratio (DPR) is currently 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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