Sava Infond d.o.o. Invests $233,000 in Newmont Corporation $NEM

Key Points

• Sava Infond d.o.o. has invested $233,000 in Newmont Corporation, acquiring 4,000 shares of the company during the second quarter.
• Newmont recently reported a strong earnings performance with $1.43 earnings per share, exceeding forecasts, and a revenue increase of 20.8% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, yielding an annualized $1.00 and a dividend payout ratio of 17.95%.

Sava Infond d.o.o. acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,000 shares of the basic materials company's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Newmont by 4.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock worth $260,000 after acquiring an additional 190 shares in the last quarter. Chelsea Counsel Co. boosted its stake in shares of Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company's stock worth $1,067,000 after acquiring an additional 190 shares in the last quarter. Hemington Wealth Management boosted its stake in shares of Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after acquiring an additional 194 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in shares of Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $86.86 on Friday. The business has a 50 day moving average price of $74.37 and a 200 day moving average price of $61.08. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The company has a market cap of $95.41 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.96 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 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. 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 the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred 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 owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm'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 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 represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Newmont in a research note on Saturday, September 27th. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. Three equities 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.18.

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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