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Sequoia Financial Advisors LLC Has $1.08 Million Stock Holdings in Newmont Corporation $NEM

Newmont logo with Basic Materials background

Key Points

  • Sequoia Financial Advisors LLC increased its stake in Newmont Corporation by 20.6% in the 2nd quarter, owning 18,606 shares valued at approximately $1.08 million.
  • The company recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.1% and a dividend payout ratio of 17.95%.
  • Analysts have mixed views on Newmont, with Citigroup raising its price target to $104 while Weiss Ratings downgraded the stock from "buy" to "hold."
  • MarketBeat previews top five stocks to own in November.

Sequoia Financial Advisors LLC increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 20.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,606 shares of the basic materials company's stock after buying an additional 3,172 shares during the period. Sequoia Financial Advisors LLC's holdings in Newmont were worth $1,084,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company's stock valued at $912,000 after buying an additional 5,848 shares during the period. Generate Investment Management Ltd grew its stake in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company's stock valued at $22,079,000 after buying an additional 77,865 shares during the period. Bessemer Group Inc. grew its stake 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 valued at $569,000 after buying an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the 1st quarter valued at about $423,000. Finally, Spire Wealth Management boosted its stake in Newmont by 125.0% during the 1st 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 during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock valued at $1,132,065 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $90.76 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The company's 50 day moving average price is $79.24 and its two-hundred day moving average price is $63.97. 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 $99.69 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.07 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 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 firm earned $0.72 EPS. The company's quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. Citigroup lifted their price target on Newmont from $74.00 to $104.00 and gave the company a "buy" rating in a research note on Wednesday. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a "buy" rating in a research note on Sunday, October 12th. Finally, Weiss Ratings downgraded Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.59.

Check Out Our Latest Stock Analysis on NEM

Newmont Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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