Simplicity Wealth LLC Purchases Shares of 18,722 Newmont Corporation $NEM

Key Points

• Simplicity Wealth LLC acquired 18,722 shares of Newmont Corporation, valued at approximately $1,091,000, during the second quarter.
• Institutional investors now own 68.85% of Newmont's stock, with several funds significantly increasing their positions in the company during the first quarter.
• Newmont recently declared a quarterly dividend of $0.25 per share, representing an annual yield of 1.1% and a payout ratio of 17.95%.

Simplicity Wealth LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,722 shares of the basic materials company's stock, valued at approximately $1,091,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. boosted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Newmont in the first quarter valued at $26,000. Colonial Trust Advisors increased its holdings in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after buying an additional 429 shares during the last quarter. Private Trust Co. NA raised its position in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in Newmont in the first quarter valued at $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEM shares. Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Newmont in a research note on Saturday, September 27th. The Goldman Sachs Group increased their price target on Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a research report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.18.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the business'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 completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the 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 sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 in the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM opened at $88.60 on Tuesday. The firm has a market cap of $97.32 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The business's 50 day moving average is $74.87 and its 200-day moving average is $61.56. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $89.37.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 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 for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company's revenue for the quarter was up 20.8% on a year-over-year basis. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont's payout ratio is 17.95%.

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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