Stratos Wealth Partners LTD. Has $2.98 Million Holdings in Newmont Corporation $NEM

Key Points

• Stratos Wealth Partners LTD. significantly increased its stake in Newmont Corporation, raising its holdings by 115.6% to approximately $2.98 million during the 2nd quarter.
• Several hedge funds have also boosted their investments in Newmont, with institutional investors owning 68.85% of the company's stock.
• Newmont recently announced a quarterly dividend of $0.25, representing a 1.1% yield and a payout ratio of 17.95% for investors.

Stratos Wealth Partners LTD. increased its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 115.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,201 shares of the basic materials company's stock after buying an additional 27,456 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Newmont were worth $2,983,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares in the last quarter. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi increased its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares in the last quarter. Invesco Ltd. increased its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were 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 approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company's stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NEM shares. Weiss Ratings cut Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. CIBC set a $112.00 target price on Newmont and gave the stock an "outperformer" rating in a report on Friday, October 10th. Cibc World Mkts upgraded Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a "buy" rating in a report on Sunday, October 12th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $87.59.

Newmont Price Performance

Shares of NYSE NEM opened at $90.76 on Monday. The stock has a market capitalization of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.63 and a beta of 0.34. The business has a 50-day moving average of $79.24 and a 200-day moving average of $64.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter last year, the company earned $0.72 EPS. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) 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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