SageView Advisory Group LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• SageView Advisory Group LLC has acquired 5,061 shares of Newmont Corporation, valued at approximately $244,000, during the 1st quarter, as per their latest SEC filing.
• Newmont recently announced a quarterly dividend of $0.25 per share, with an ex-dividend date of September 4th, representing an annual yield of 1.3%.
• Analysts have varying ratings for Newmont, with four firms assigning a Strong Buy rating and an average price target of $67.38 based on recent reports.

SageView Advisory Group LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,061 shares of the basic materials company's stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. Bessemer Group Inc. grew its position in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after acquiring an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Newmont in the 1st quarter worth approximately $423,000. Spire Wealth Management grew its position in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after acquiring an additional 1,309 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Newmont in the 1st quarter worth approximately $202,000. Finally, Bayforest Capital Ltd grew its position in shares of Newmont by 269.4% in the 1st quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock worth $426,000 after acquiring an additional 6,439 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction 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 sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,246 shares of company stock valued at $1,253,559 in the last quarter. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 0.5%

Shares of NYSE NEM opened at $79.25 on Friday. The company has a market cap of $87.05 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $80.07. 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 stock's 50 day simple moving average is $67.46 and its 200 day simple moving average is $57.05.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont's payout ratio is presently 17.95%.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $66.00 to $95.00 in a research report on Wednesday. BNP Paribas lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. UBS Group raised their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average price target of $67.38.

Newmont 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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