State of Wyoming Has $434,000 Stock Holdings in Newmont Corporation $NEM

Key Points

• The State of Wyoming increased its stake in Newmont Corporation by 87.3% in Q1, holding 8,987 shares valued at $434,000 after purchasing an additional 4,188 shares.
• Newmont reported quarterly earnings of $1.43 per share, exceeding analysts' expectations, with revenue rising 20.8% year-over-year to $5.32 billion.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized dividend yield of 1.3% and a payout ratio of 17.95%.

State of Wyoming lifted its position in Newmont Corporation (NYSE:NEM - Free Report) by 87.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,987 shares of the basic materials company's stock after purchasing an additional 4,188 shares during the quarter. State of Wyoming's holdings in Newmont were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of Newmont by 13.2% during the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after buying an additional 1,379 shares in the last quarter. First Trust Advisors LP grew its position in Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after acquiring an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Newmont during the 1st quarter valued at $423,000. Spire Wealth Management raised its position in Newmont by 125.0% in 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. Finally, Flagship Harbor Advisors LLC acquired a new position in Newmont in the first quarter worth $202,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Newmont stock opened at $74.48 on Friday. The company has a market cap of $81.81 billion, a PE ratio of 13.37, a PEG ratio of 0.88 and a beta of 0.30. 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 $74.52. The company's 50-day moving average is $63.91 and its two-hundred day moving average is $55.02.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont's payout ratio is presently 17.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price for the company. CIBC set a $74.00 price objective on shares of Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. 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 note on Monday, July 28th. Finally, UBS Group raised their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the transaction, the director owned 41,026 shares in the company, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,246 shares of company stock valued at $1,373,251 in the last 90 days. 0.05% of the stock is owned by company insiders.

About Newmont

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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